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Coin Stories
Eric Balchunas & James Seyffart: The Race for a Winning Spot Bitcoin ETF
Jan 8, 2024
Eric Balchunas, Bloomberg ETF analyst, and James Seyffart, Bloomberg Intelligence research analyst, discuss the approval of Spot Bitcoin ETFs by the SEC, the competition in the market, and the creation/redemption process. They explore the differences between owning Bitcoin and owning a Spot Bitcoin ETF. The podcast also covers the progress of spot Bitcoin ETF applications, the government's role in custodian selection, the involvement of JP Morgan in Bitcoin ETFs, and the impact of BlackRock and Fidelity on the space.
59:55
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Quick takeaways
- The approval of Bitcoin ETFs is expected soon, with one dominant ETF likely to take the majority of liquidity.
- The use of cash create for Bitcoin ETFs instead of in-kind redemptions raises concerns but is based on practical considerations and regulatory limitations.
Deep dives
The Road to a Bitcoin ETF
The podcast episode discusses the journey towards the approval of a Bitcoin exchange-traded fund (ETF). The hosts explain that ETFs are becoming increasingly popular due to their low cost, tax efficiency, and convenience. The SEC has received applications for spot Bitcoin ETFs and expects to approve several of them soon. The episode explores the reasons why ETFs have grown in popularity in recent years, including their efficiency, standardized trading, and the rise of fee-based advisors. The hosts also discuss the potential impact of a Bitcoin ETF on the market, predicting that there will likely be one dominant ETF with the majority of liquidity, while other competitors may struggle to gain traction.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode