On The Brink with Castle Island
Weekly Roundup 01/05/24 (ETF looming, DoJ drops SBF charges, TNG DDY) (EP.495)
Jan 5, 2024
This week's podcast covers Matrixport's bearish ETF take, the DoJ dropping campaign finance charges against SBF, Goldman and JPM becoming authorized participants for the ETF, where fees will settle for major Bitcoin ETFs, Nic's vanity license plate story, and more
31:42
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Quick takeaways
- The podcast discusses the potential implications of Bitcoin ETF approval, including rotation trades among ETFs and the fate of existing products like GBTC.
- The podcast raises concerns about the lack of transparency in the sudden discontinuation of legal action against SBF and questions the role of politicians and campaign financing in the ETF approval process.
Deep dives
Progress towards Bitcoin ETF
The podcast discusses the ongoing progress towards the approval of a Bitcoin ETF. Various companies, including BlackRock, Grayscale, and Fidelity, have filed for ETF approval, and the SEC seems to be clearing bureaucratic hurdles in the process. The podcast highlights the potential implications of ETF approval, such as rotation trades among different ETFs based on pricing and the fate of existing products like GBTC. The discussion also touches on the absence of surveillance sharing agreements and the potential fee competition among different ETF providers.
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