Coin Stories cover image

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

Podcast summary created with Snipd AI

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.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode