Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF - Ep. 509
Jun 23, 2023
auto_awesome
James Seyffart, a research analyst at Bloomberg Intelligence, dives into the intriguing world of Bitcoin ETFs. He discusses why the SEC has rejected previous applications and what sets BlackRock's filing apart. Seyffart explores the significance of partnerships, like BlackRock's with Coinbase, amid ongoing legal challenges. He highlights the substantial advantages of being a first mover in the ETF market and explains the critical differences between spot and futures Bitcoin ETFs. The conversation unveils the potential impacts on the cryptocurrency landscape as TradFi giants maneuver for approval.
The SEC has swatted down so many spot bitcoin ETF applications that crypto diehards simply gave up caring. Then comes TradFi giant BlackRock – at the height of the SEC’s crypto crackdown, no less – with an ETF application that has seemingly changed the calculus. Bloomberg Intelligence ETF watcher James Seyffart joins the show to unpack the odds of BlackRock being the first to win approval, and what it would mean for other players in the space chasing down TradFi’s “holy grail.”