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Chain Reaction
A bitcoin spot ETF could open the floodgates for greater crypto demand (w/ Eric Balchunas)
Aug 17, 2023
Eric Balchunas, senior ETF analyst at Bloomberg and author of The Institutional ETF Toolbox, discusses the current state of bitcoin spot ETFs, including Europe's first listing and the U.S. SEC's delay in approval. Balchunas explores the potential impact on the crypto market and trading volumes. He also speculates on the expense ratio of BlackRock's upcoming ETF and discusses the potential demand and implications of a spot ETF for bitcoin.
24:17
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Quick takeaways
- The approval of Bitcoin spot ETFs can attract a large influx of institutional money into the US crypto market.
- Bitcoin spot ETFs may disrupt crypto exchanges by offering convenience and low trading costs, but exchanges can explore other revenue streams.
Deep dives
The Race for Bitcoin Spot ETFs
The podcast episode discusses the recent developments in the world of Bitcoin spot ETFs and their impact on the US crypto market. It mentions that while there are already Bitcoin futures ETFs, the spot ETFs have been the focus for many years. The episode highlights the recent listing of Europe's first Bitcoin spot ETF by Jacobi Asset Management and the delayed deadlines for Bitcoin spot ETF applications by the US SEC. It further explores the significance and potential impact of the approval of spot Bitcoin ETFs, especially on the US market, as it provides an entry point for a large amount of money managed by financial advisors. The episode also mentions the involvement of prominent institutions like BlackRock, VanEck, and Arc in seeking SEC approval for spot Bitcoin ETFs. The discussion revolves around the factors influencing the approval process, such as surveillance sharing agreements and concerns about fraud and manipulation. The episode concludes by highlighting the potential for increased liquidity and demand in the crypto market with the introduction of Bitcoin spot ETFs, particularly among traditional investors and institutions.
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