BREAKDOWN: Massive Trading Volume for ProShares Bitcoin Futures ETF as NYAG Targets Crypto Lenders

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 19 October 2021

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Could the Bitcoin ETF be headed for a record premier? This episode is sponsored by NYDIG. On today’s episode, NLW catches up on a variety of topics from the past week, including: How the first day of trading the ProShares $BITO bitcoin futures ETF is going (and why it could be headed for record breaking volume). Grayscale formally starting the process to convert GBTC into a bitcoin spot ETF The NYAG goes after Nexo and Celsius around crypto yield products The Treasury trying to get crypto companies on board with a sanctions program Facebook’s Novi launches with a non-diem stablecoin Square looking to explore the bitcoin mining game Guggenheim’s Scott Minerd leaves bitcoin - 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 “Tidal Wave” by BRASKO. Image credit: Peter Finch/Stone/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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0:40.8	Start your free 30-day trial at audible.com slash Wondery UK.
0:45.6	That's audible.com slash Wondery UK.
0:53.8	Welcome back to The Breakdown with me, NLW.
0:59.0	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:05.9	The breakdown is sponsored by Nidig and produced and distributed by CoinDes.
1:12.4	What's going on, guys? It is Tuesday, October 19th, and today we are doing something that we are
1:17.6	way overdue for here. An extended brief episode, a grab bag episode. There have been a ton
1:24.0	of things that we haven't had a chance to cover over the last week or so. So today, instead
1:28.1	of one big banner topic, we're going to be covering a bunch of things, but in smaller form.
1:33.3	Let's start with some follow-up on the ETF. Of course, as you know from yesterday's show,
1:39.9	today, for the first time a Bitcoin futures ETF is trading on a U.S. stock exchange.
1:46.2	ProShares has begun trading today on the NYSC, and yesterday we got a little bit of info about
1:51.5	how some of the competing ETFs are responding.
	...

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