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Unchained
How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection - Ep. 562
Oct 27, 2023
In this discussion, Alex Thorn, head of research at Galaxy, shares insights on Bitcoin ETFs and their potential to attract over $14 billion in the first year post-approval. He emphasizes the importance of these funds for financial advisors seeking to introduce clients to crypto. Thorn also forecasts significant market growth, drawing parallels between Bitcoin and gold. Michael Del Castillo provides a recap of the week’s key crypto news, covering political impacts and market movements related to ETFs. Together, they navigate the evolving crypto landscape.
42:12
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Quick takeaways
- The potential approval of spot bitcoin ETFs could lead to inflows of over $14 billion in the first year, providing financial advisors and wealth managers with a new way to offer clients exposure to digital assets.
- Bitcoin's price surge is connected to the growing optimism over the approval of spot Bitcoin ETFs, with analysts predicting an early approval as soon as January 2024.
Deep dives
Wall Street Journal Report Sparks Political Uproar Over Crypto Financing of Terrorism
A recent Wall Street Journal report claimed that Palestinian militant groups raised $130 million in cryptocurrency from attacks in Israel, leading to political reactions and demands for action against crypto financing of terrorism. However, it was later revealed that one of the groups, Hamas, had actually asked for donations to stop in the face of increasing prosecution and hostility. Efforts are underway to address these concerns, with the US lawmakers urging action to prevent crypto financing of terrorism and proposing regulations targeting crypto mixers. Additionally, Republican lawmakers have requested an investigation into finance and tether for their alleged role in terrorism financing.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode