On The Brink with Castle Island
Matt Hougan (Bitwise) on the approval of spot Bitcoin ETFs (EP.497)
Jan 11, 2024
Matt Hougan, CIO of Bitwise Asset Management, discusses the approval of spot Bitcoin ETFs and Bitwise's low-cost option. They also talk about their plan to donate profits, evolving market structure, and the potential for Ethereum ETFs.
21:13
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Quick takeaways
- The approval of Bitwise's Bitcoin spot ETF marks a significant milestone for the company, after a long process involving filings, meetings, and research.
- Bitwise's commitment to donating 10% of the ETF's proceeds to support Bitcoin open source developers reflects their belief in attracting more investors and enhancing market liquidity in the crypto space.
Deep dives
Bitwise Bitcoin spot ETF finally approved
After a long journey, the Bitwise Bitcoin spot ETF has been approved, marking a significant milestone for Bitwise. The process began in 2018-2019 with the filing of the first Bitcoin ETFs. Countless meetings and extensive academic research followed. The recent drama surrounding the approval, including the grayscale lawsuit and the SEC's announcement mishap, added to the complexity. However, the Bitwise Bitcoin spot ETF, with its lowest fee of 20 basis points, is expected to attract substantial interest from investors.
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