Unchained Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday - Ep. 592
Jan 9, 2024
James Seyffart and Eric Balchunas from Bloomberg Intelligence dive into the imminent approval of spot Bitcoin ETFs and the competitive landscape surrounding them. They discuss the implications of recent SEC filings and the potential for simultaneous launches, likening the situation to a high-stakes horse race. The conversation shifts to Wall Street's unexpected embrace of Bitcoin, particularly JP Morgan's involvement. With fierce competition leading to fee wars, they analyze how all these dynamics will shape the future of Bitcoin investment and the industry as a whole.
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Final Filings
- The SEC's approval of spot Bitcoin ETFs hinges on two key filings: the 19b-4 and the S-1.
- These filings signal the final stages of regulatory review before ETFs can begin trading.
Simultaneous Launches
- Simultaneous ETF launches are historically unprecedented in scale.
- The upcoming Bitcoin ETF launch involves a large number of issuers, marking a historic event.
Fair Launch Concerns
- The SEC aims to ensure a fair ETF launch, mindful of BITO's dominance in futures ETFs.
- Eric Balchunas expresses concern that Grayscale’s existing assets might give them an unfair advantage.