Bits + Bips: Ethereum and Solana ETFs and Why Crypto Is Poised for a Breakout - Ep. 668

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 3 July 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are Solana ETFs on the brink of approval? How might political outcomes influence this decision? Join hosts James Seyffart, Alex Kruger, and Joe McCann as they delve into the latest buzz around Solana’s potential spot ETFs, dissect the SEC's puzzling delay on Ethereum ETFs, and debate why Bitcoin’s recent performance has diverged from the NASDAQ. They also discuss the U.S. presidential election, the event that Alex says was the “second most bizarre thing” he’s seen in his life, what the bond market seems to indicate about expectations for a Trump presidency, and how upcoming nonfarm payroll reports and potential rate might affect the markets. Show highlights: 00:00 Intro 01:47 How political outcomes might influence the approval of spot Solana ETFs 04:16 Whether futures ETFs are 100% needed for an approval of spot crypto ETFs 09:26 The high premium on Grayscale's Solana Trust (GSOL) 13:50 How the outcome of the 2024 U.S. presidential election could impact the crypto industry 20:55 Why the SEC delayed the launch of the Ethereum ETF 24:53 How the upcoming nonfarm payroll report and potential rate cuts impact market volatility and the Federal Reserve's decisions 27:51 How the rise of populist candidates in France and changes in currency markets might affect the US dollar and the broader economic landscape 31:40 How Bitcoin, Ethereum, and Solana performed in Q2, and the surprising outperformance of BONK 34:45 Why Bitcoin's performance diverged from the Nasdaq's recent rally 45:48 How recent movements in long-term bond rates are linked to political changes, such as the rise of right-wing populism and concerns about fiscal responsibility 52:45 How FTX creditors could potentially influence market dynamics, and the irony in the US government using Coinbase as a custodian Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think it's very interesting what's happening on the long rates on basically long
0:04.5	rates is bonds with very long the longest maturity or duration so basically
0:11.0	right now it's rates are rallying quite, I mean, sorry, it's,
0:17.0	bonds are our tanking has been very significant move today. We have, what is it the third year future is down 1.6% that's a rather very
0:28.1	large move and do not think it's a coincidence I think this is basically being driven by this is the
0:35.1	Trump trade and the European trade on basically the right taking over politics and the market getting concerned about fiscal responsibility.
0:48.0	Hi everyone, welcome to Bits and Bips, exploring how crypto and macro collide one basis point at a time.
0:53.6	I'm your host James Safert, TradFi Archmaister, Lord of Bloomberg's End.
0:58.2	I'm here with Joe McCann, Lord Commander of Asymmetric and Master of Bogg.
1:03.1	We're here to discuss the latest stories
1:04.6	in the worlds of crypto and macro news.
1:06.6	Just remember nothing we say here is investment advice.
1:09.1	Check unchain crypto.com
1:10.5	slash bits and bits for more disclosures.
1:13.0	Yeah, we're missing Alex this week.
1:15.4	So it's a holiday week, it's July 4th week.
1:18.7	It's going to be a relatively short podcast,
1:20.3	but apparently Alex, our Argentinian friend, is celebrating July 4th a little early so we're going to have to do this one without him
1:27.5	Classic Argentinian
1:32.1	We love you Alex just kidding. Yeah. Yeah. I mean so there's honestly there really hasn't been much for us to discuss here everything kind of happened that we had a lot of stuff to talk about last time we could I, I think we went, that was our longest episode yet and we probably could have kept going for another 30 minutes if we really wanted to.
1:47.2	Well, you know, James, there is one thing, one thing that happened last week.
1:53.0	Do you have any idea what that one was?
	...

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