Unchained Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 - Ep. 560
Oct 24, 2023
James Seyffart, a research analyst at Bloomberg Intelligence, and Matthew Hougan, Chief Investment Officer at Bitwise Asset Management, dive into the promising horizon of spot Bitcoin ETFs. They discuss the SEC's pivotal decision not to appeal Grayscale's favorable ruling, suggesting it's a sign of potential approval. The duo also explores the implications for the broader market, including anticipated Ethereum ETF rollouts. As regulatory dynamics shift, they highlight the importance of accurate reporting in shaping market perceptions and urgency around these financial products.
AI Snips
Chapters
Transcript
Episode notes
Spot Bitcoin ETF Advantages
- Spot Bitcoin ETFs offer easier custody and tax advantages compared to holding actual Bitcoin.
- The SEC's decision to not appeal Grayscale's conversion application suggests potential approval.
Grayscale's Core Argument
- The SEC allowed Bitcoin futures ETFs despite concerns about spot Bitcoin manipulation.
- This illogical discrepancy formed the basis of Grayscale's successful lawsuit.
NYAG Lawsuit and GBTC
- New York's Attorney General sued Grayscale's parent company, DCG, raising concerns about GBTC's conversion.
- James Seyffart believes this lawsuit likely won't significantly impact GBTC or its holders.