Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Friday, November 10th, and today we are talking about Black Rocks, Ethereum, ETF filing.

Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

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Hello friends, happy Friday. Before we dive in, I just have to give you a little bit of information

about the show and the weekend. Unfortunately, this show is going to be a little bit shorter than normal

and there will be no weekend episodes. Late last night, I started having to deal with an unexpected

family situation that has cut

way into the time for recording today, but I at least wanted to round out the bullish end

to this week, and really capstone our shift away from the Sam-based world of last year,

and face forward into what's coming next.

With that in mind, on Thursday morning, news broke that BlackRock

had registered an entity called the I-Shares Ethereum Trust in Delaware. Although representatives

for BlackRock refused to comment, the filing appeared legitimate. It named the managing

director of BlackRock advisors as the filing agent. There was initially some skepticism at first

and people not sure if it was rumors, but suspicions were

confirmed in the afternoon after markets closed when it was revealed that BlackRock had filed

to launch a Spot Ethereum ETF. Now, this is not the first Spot Ethereum ETF to be filed.

A few months after the flurry of Spot Bitcoin ETF filings in June, asset managers doubled down

...