MARKETS DAILY: Crypto Update | Slowing Inflows of ETF Investments - the Evergreen Story of Crypto
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 May 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Jenn Sanasie and General Partner at Dragonfly Tom Schmidt.
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On "Markets Daily," Tom Schmidt, General Partner at Dragonfly, discusses market pricing, indicating a 0% probability of a rate cut in June. He and Sanasie delve into the disappointing performance of Hong Kong ETFs compared to US ETFs, highlighting the former's role as an accessible vehicle for Bitcoin investment endorsed by regulators. Despite Hong Kong's crypto-friendly environment, ETF inflows are slowing in both Hong Kong and the US, with investors shifting towards lower-cost options to reduce fees and improve returns. The conversation anticipates a potentially more hawkish tone from the upcoming Fed meeting but remains optimistic about controlling inflation. They also touch on conflicting views regarding inflation and rate cuts, noting external pressures favoring lower rates to stimulate the economy.
Chapters |
00:00 Introduction
02:15 Hong Kong ETFs
04:15 Regulatory Endorsement: The ETF's Impact on Bitcoin as an Asset Class
06:38 Conflicting Ideas on Inflation and Rate Cuts
08:45 The Future Price Range of Bitcoin
10:56 The Importance of Regulatory Compliance
13:02 The Potential Turf War Between the SEC and CFTC
13:43 The Need for Clarity and a Clear Path Forward
14:31 The Importance of Points in Bootstrapping Networks
15:30 The Future of Liquidity Mining and Points
LINKS |
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This episode was hosted by Jenn Sanasie. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. I think overall the Fed is not seeing |
| 0:51.3 | inflation decrease the same way they would like it to be. |
| 0:54.5 | And if anything, inflation has been re-accelerating in the past month or two, I think there's |
| 0:58.5 | obviously this other political pressure to have rate cuts going into the election. |
| 1:03.5 | It's hard to say how these two sort of conflicting ideas are going to clash. |
| 1:25.2 | It's Wednesday, May 1st, 2024, and this is Markets Daily, a show where we get into the minds of some of the smartest and most experienced researchers, investors, traders, analysts, CEOs, and anyone with a hot or smart take. |
| 1:26.6 | I'm Jen Sanasi. |
| 1:30.1 | Now, before we get into our discussion today, let's take a look at what's going on in the crypto markets. |
| 1:31.5 | It is just another week morning across the board. |
| 1:35.3 | Bitcoin is down around 5%, trading under $60,000. |
| 1:38.9 | Last time I checked, it was at about $58,000, either down almost 3%. |
| 1:43.4 | At around 2,900. Now, risk off sentiment is prevalent |
| 1:47.8 | ahead of the big Fed meeting. We're all waiting for today. We're going to learn if there's |
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