Expert's Take: Is a Bitcoin ETF Really Possible? with James Seyffart
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 11 July 2023
⏱️ 138 minutes
🧾️ Download transcript
Summary
Today we're joined by James Seyffart, a research analyst at Bloomberg who's the perfect person to answer our questions regarding the convergence of crypto and ETFs.
We dive into:
- The probabilities of a Blackrock Bitcoin ETF and why
- Important dates in which the SEC will need to give us answers
- Neutrality, or lack thereof around the ETF approval process
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TIMESTAMPS
0:00 Intro
7:44 What is an ETF?
13:00 ETF History Lesson
17:40 ETF Market Size and Holders
22:46 Types of ETFs
27:02 Where Are These Assets Stores
34:04 Who Approves ETFs?
40:08 Neutrality Of Regulators
44:16 Types of Bitcoin ETFs
49:17 Reasons For Rejection
55:12 Does Gary Just Hate Crypto?
58:13 Does Blackrock Change Things?
1:04:46 Will Blackrock Get Approved?
1:15:20 Possible Approval Dates
1:19:09 Lack of ETFs to Blame For Crypto Fallout?
1:28:38 Why Should we Care?
1:34:14 Risks and Disclaimers
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RESOURCES
James on Twitter: https://twitter.com/JSeyff
Trillions Podcast: https://www.bloomberg.com/podcasts/series/trillions
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Yeah, let's be I'll be very blunt if you look at all the things that they have said and written over the last three years |
| 0:05.4 | This will be denied |
| 0:06.9 | But really there's a lot there's a lot of circumstantial evidence that suggests that |
| 0:11.9 | It will be approved the it goes back to what I said they come back into whatever decision they want to |
| 0:17.6 | Okay, well you said two things there James. I want to be clear |
| 0:21.4 | When Bitcoin ETF that is the question on our mind today is the Bitcoin ETF actually happening or not will happen this year or |
| 0:36.1 | Not black rock fidelity some of the largest ETF issuers in the world have now |
| 0:42.3 | Submitted filings for ETFs with the SEC is Gary Gensler going to let them through and at this point |
| 0:48.8 | Can he even say no? That's the question we raise with James Safert |
| 0:53.9 | He's a Bloomberg analyst who's tracking this thing closer than anyone I've ever met |
| 0:58.1 | He's on the episode today and he gives us a date by which we should have a clean answer from the SEC on the Bitcoin ETF |
| 1:06.5 | So is he over or under on the probability that SEC approving a Bitcoin ETF this year? |
| 1:12.0 | You have to listen to the entire conversation to find out I'm psyched about this episode and before we begin |
| 1:18.1 | I want to address a question that some of you might have which is why is bankless even covering the Bitcoin ETF that's not very |
| 1:24.0 | Bankless of you you might say I disagree with that and here's why I think when people buy crypto assets |
| 1:30.5 | They buy into crypto values not all the way not all at once |
| 1:35.0 | But a little bit at a time. This is just another step forward |
| 1:39.1 | Crypto ETFs in my mind are a gateway drug a type of gateway drug |
| 1:43.1 | I don't think people will stop with just the Bitcoin ETF in their retirement account |
| 1:46.7 | I think that's the gateway to them setting up an exchange account for instance and buying spot Bitcoin or spot ether |
| 1:54.1 | That way, which is the gateway to going full bankless and taking custody of their own keys in order for people to care about crypto |
| 2:01.6 | They actually have to own crypto and this is an easy way for people to own crypto in their retirement accounts |
... |
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