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just minutes ago we're getting some breaking news here that black rock and Ark slash their BTF ETF fees ahead of the deadline in an effort here to compete and attract investors with some of their lower costs let's talk about what this where all things stand and what this means for the industry we want to bring in Zach Bradford he's a CEO of clean spark Brad was Z excuse me it's great to have you here so let's talk about some of the excitement that we're seeing play out within the crypto space right now the massive jump that we saw on the heels of that false tweet from the SEC yesterday what are you expecting to hear from the SEC and what do you think it's going to do to the price of Bitcoin you know we're we're really excited about it um I I expect we're going to see approval um you know later this afternoon and how we view it is as a long-term catalyst so I I think we'll see some you know price action immediately after but we look at it as another way of adoption and the strength of Bitcoin is partially based on how many users use it what adoption looks like and what the access looks like and this is going to be a brand new way for new investors to be able to get access in a way that's familiar so we see this as nothing but positive for ultimately the price of Bitcoin but the long-term adoption rate of Bitcoin also we we think this is going to really prove it out um you know the Bitcoin approving an ETF um helps everybody view also the related Industries around it um as something that is a little more friendly a little more accessible um for your everyday investor Zach we'll put the question to you as well that came up with our conversation with Steve snik of interactive brokers of you know if you weren't in Bitcoin or crypto touching before is this the moment that changes that mindset for investors that are out there or even some larger institutional firms I think so because I think that often the access or the custody or you know what is bitcoin there's potential complications that um or barriers to to entry um you know an average investor feels very comfortable with a stock or you know an ETF ownership and I think that there's a lot of institutional Capital that's been sidelined um due to the risks around it and the ETFs have now put up a system where they're going to hold it they're going to manage some of those immediate risks around holding and custody of the Bitcoin themselves and so I think it's a great entry point and I think that you know if you look at the returns that Bitcoin has been been producing on a long-term basis I think you're going to see a lot of portfolio managers access at least a small portion of the portfolio um because I think that there's going to be to the sec's point from their warning on Monday there's going to be a fear of missing out and I think it's a valid fear because I you know I of course am a long-term believer in Bitcoin and so I I do think that that's where we're going to see an easy entry point into Bitcoin through these ETFs and Zach when we talk about all the number of the Catalyst maybe that could be on top here for the crypto industry also taking a look at having what exactly that does not only for the industry but more specifically your business how are you preparing for that and I guess in the long term do you see that being a massive Catalyst for the industry here just in terms of wider adoption and also what it has done historically speaking Yeah the the halfing event um is every four years essentially the rewards that the algorithm produces for the miners that are managing in the system gets cut in half and it's designed that way for you know supply and demand reasons and I think again on a long-term basis um as Supply decreases you get built-in scarcity and that helps improve um Bitcoin and its value on a historical basis in the prior halfings when it occurs there's usually you know an upward price Movement 3 to six months after the halfing event that's very meaningful and so uh you know as a minor our Focus has been on making sure we are amongst the most efficient miners on an energy basis which of course is our main cost driver so we can stay competitive so that when the large price movement that we do expect on a post halfing basis occurs that we're we're ready to benefit from that so you know that's that's what I would you know new investors to bitcoin there's a catalyst coming in April to look for that historically has led to price Improvement on a long-term basis Zach we're going to include you in our informal Yahoo finance poll of the day with this question is Gary gendler SEC chair a friend or Foe for crypto you know I think for for crypto I think he's probably Fox um and I think that that comes to a key thing with to understand is not all digital assets are made equal um I do think that Bitcoin is different it's the only thing that really doesn't have a CEO it is fully distributed and think that that's why we're seeing Bitcoin be the first one to pass through because it's it's clearly in my opinion um not a security but I do think that there's a tough road ahead for other digital assets um under gendler's leadership Zack Bradford clean spark CEO Zach thanks so much for taking the time here on the day we appreciate it hey thank you for having me
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