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 Wednesday, August 30th, and today we are talking about everything

that happened yesterday that wasn't the SEC and gray scale. Before we dive into that, however,

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Well, friends, yesterday was obviously a huge day, one of the bigger ones we've had for a while,

so much so that I had to scrap a planned show and record all about grayscale defeating the SEC

in their lawsuit. I don't have too many updates on that front today other than a return to this question

of to what extent this means that a Bitcoin spot ETF is more likely to occur.

There were many who cautioned yesterday that just because the SEC is now forced to reconsider

gray scale, it doesn't mean that they are being forced to approve a spot Bitcoin

ETF.

However, the ETF analysts at Bloomberg certainly think that this was a big deal. Eric Balcunis writes,

Jamie Sefart and I are upping our odds to 75% of spot Bitcoin ETFs launching this year, 95% by

end of 24. While we factored a gray scale win into our previous 65% odds, the unanimity and decisiveness

of the ruling was beyond expectations and leaves the SEC with very little wiggle room.

So there you have it. Clearly a pretty big deal. Although again, nothing is guaranteed particularly

with this SEC. Now still, as I said, quietly a ton of other things were happening in and around

the jubilation around this news. Travis Kling summed up at least part of it saying,

the juxtaposition here is palpable. In a single day, the SEC potentially approving a spot

...