MARKETS DAILY: Featured Story | A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin ETF
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 June 2023
⏱️ 5 minutes
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Summary
Hint: It likely has to do with making money.
Featured Story: An opinion piece by George Kaloudis, titled: “A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin ETF”
This episode was hosted by Adam B. Levine. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | It's Thursday, June 22nd, 2020, and this is Markets Daily from CoinDesk. |
| 0:09.6 | I'm Adam B. Living hereing on with George Calutus with your featured story. |
| 0:13.0 | On today's show, we're talking ETF motivations. |
| 0:15.4 | And just a reminder, CoinDisc is a new source and does not provide investment advice. |
| 0:32.3 | Bitcoin, Ether, and the broader crypto market continue their upward descent, |
| 0:36.8 | with BTC notably breaking above the 30K mark and sitting pretty, at least as you record this morning's episode. |
| 0:38.2 | But for today's show, we're going to hand the mic over to George Kallutis for a deeper look |
| 0:41.6 | at recent mainstreaming and ETF news. George? |
| 0:45.2 | Today's future story is an opinion piece by George Kaluas. |
| 0:49.3 | The opinion piece is titled A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin |
| 0:54.2 | ETF. The institutions are taking a fresh look at crypto and they're flooding in. |
| 1:00.2 | Last week, BlackRock applied for a spot Bitcoin exchange traded fund or an ETF. This week, |
| 1:05.8 | another comically large asset manager in Vesco reapplied for approval to offer a spot Bitcoin |
| 1:10.6 | ETF. The less comically large ETF sponsor Wisdomtlied for approval to offer a spot Bitcoin ETF. |
| 1:11.5 | The less comically large ETF sponsor Wisdomtree also refiled for a spot Bitcoin product Tuesday. |
| 1:16.4 | Wisnmetree's filing was initially rejected by the SEC in 2022. |
| 1:19.8 | Elsewhere in non-Bitcoin crypto, crypto exchange backed by Fidelity, Schwab, and Citadel |
| 1:23.6 | Securities launched in the United States, and Deutsche Bank applied for a digital asset license in Germany. So yes, the institutions are back, but why did 10 trillion dollar |
| 1:32.3 | asset manager BlackRock and one and a half trillion dollar asset manager in Vesco |
| 1:35.5 | decide it was time for the spot Bitcoin ETF again? Many have offered convoluted in tinfoil |
| 1:41.0 | hat theories, some which I quite like. Theories like BlackRock is scrambling to backstop Coinbase for some reason, |
| 1:47.3 | or the big firms are acting on behalf of three-letter agencies to keep self-custody Bitcoin |
... |
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