Unchained
Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday - Ep. 648
May 21, 2024
Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, and Matt Hougan, CIO at Bitwise Asset Management, discuss the surprising turn of events with spot Ether ETFs likely to be approved. They dive into the political factors influencing this decision, particularly the impact of Staff Accounting Bulletin 121. The two also analyze the reasons behind Michael Sonnenshein's departure from Grayscale, as well as insights from recent 13F filings revealing unexpected buyers of Bitcoin ETFs. Their perspectives hint at a shifting crypto landscape and its implications for the future.
51:13
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Quick takeaways
- Approval of spot Ether ETFs likely due to political factors and reversal in previous expectations.
- Bitcoin ETF approval triggered policy changes in Washington, signaling a shift in crypto acceptance.
Deep dives
Analysis of ETF Impact on Bitcoin Price
The market anticipates the having and it is priced in based on expectations of future demand. The positive impact of the having will come from excess demand chasing Bitcoin, leading to scarcity. The having removes sellers, creating upside skew as demand is underestimated, historically driving post-having price booms.
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