Bankless BTC ETF Approval with Eric Balchunas
Jan 11, 2024
Eric Balchunas, a Senior ETF analyst at Bloomberg Intelligence, dives into the seismic shift caused by the recent approval of Bitcoin spot ETFs. He explores the vibrant enthusiasm from the crypto community and what it means for traditional finance. They discuss trading trends and early volume data, particularly the stark contrast to Ether Futures. Also, Balchunas reflects on the bizarre SEC Twitter hack that claimed a false approval, examining its impact on regulatory discussions. Expect insights on the future landscape of crypto ETFs too!
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Past ETF Excitement
- Eric Balchunas compares the Bitcoin ETF approval excitement to the Bitto futures ETF launch and the ARK Invest mania.
- He also finds excitement in Vanguard's slow-moving but massive presence in the ETF space.
SEC Twitter Hack
- The SEC's Twitter account was seemingly hacked to falsely announce the Bitcoin ETF approval.
- This ironic incident highlighted security concerns, given the SEC's focus on security regulations.
ETF Approval Vote
- The Bitcoin ETF was approved 3-2, with Gensler seemingly forced into approval due to court pressure.
- The two dissenting votes might have been strategic, allowing the SEC to express reservations while still approving.