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Unchained

Why the SEC May Want Cash Creation of Spot Bitcoin ETFs - Ep. 582

Dec 15, 2023
James Seyffart, a research analyst at Bloomberg Intelligence specializing in crypto assets and ETFs, discusses the excitement surrounding the anticipated approval of spot Bitcoin ETFs. He highlights the pivotal issue of cash versus in-kind creation models and their implications for the market. Seyffart predicts ETF listings soon and analyzes how an approval might impact major players like Grayscale. He also shares insights into the SEC's evolving stance on Ethereum, signaling a potential shift in regulatory perspectives for cryptocurrencies.
44:54

Episode guests

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Quick takeaways

  • The final issues in the approval of spot bitcoin ETFs involve the battle over in-kind vs. cash creation and redemptions.
  • The approval of ETFs could have a significant impact on Grayscale, which manages the Grayscale Bitcoin Trust.

Deep dives

Security incident with compromise of Ledger's Connect Kit

A significant security incident occurred with the compromise of Ledger's Connect Kit. Hackers injected malicious code into the GitHub library of the Connect Kit, leading to unauthorized draining of funds from users' wallets. Ledger responded promptly and deactivated the malicious code. The incident affected multiple Dapps that used the Connect Kit, causing panic and confusion in the crypto community.

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