BREAKDOWN: It's Here – Bitcoin Futures ETF to Begin Trading

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CoinDesk

Business News, News, Daily News, Tech News

4.7 • 698 Ratings

🗓️ 18 October 2021

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

The ProShares ETF will land on the NYSE tomorrow under ticker $BITO. This episode is sponsored by NYDIG. Today on “The Breakdown,” NLW rounds out the story of the bitcoin futures ETF process that has dominated crypto chatter for the last week or more. He looks at the details of the first ETF that will go live, as well as why some on Twitter argue this is really just a product for short-term traders. Finally, he looks at the significance of news that Grayscale will endeavor to convert its bitcoin fund into an ETF. - NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. - “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: George/Moment/Getty Images, modified by CoinDesk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery UK. That's audible.com slash Wondery UK.
0:49.4	When the pro shares ETF and then the other ETFs actually launch, do people actually start using
0:55.3	these instruments? If so, who was using it and how? Is it people who were on the sidelines before,
1:01.8	who find this instrument desirable, or is it professional traders who are making an arbitrage
1:06.3	trade relative to the future price of Bitcoin? How does the market narrative respond to the answers to one and two?
1:13.4	Does the market see whatever happens as a success validating this latest rally,
1:17.8	or a flop which could turn us lower?
1:21.5	Welcome back to The Breakdown with me, NLW.
1:25.6	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:32.7	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
1:39.2	What's going on, guys? It is Monday, October 18th, and today we are discussing that it's finally here. A Bitcoin
1:47.0	Futures ETF is officially slated to begin trading. So unless you've been living under Iraq, you've
1:54.8	been watching this whole ETF drama really probably throughout the year. And I did a whole show on the
	...

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