MARKETS DAILY: Featured Story | The Real Reasons the Grayscale Bitcoin ETF Decision Matters

CoinDesk Podcast Network

CoinDesk

News, Tech News, Daily News, Business News

4.7 • 698 Ratings

🗓️ 3 September 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The U.S. Court of Appeals, in rebuking the securities watchdog, shows that Securities and Exchange Commission Chair Gary Gensler won’t get the last word on crypto. Today's episode is sponsored by Kraken Pro and Simpluris. Today’s featured story is an opinion piece from CoinDesk’s Daniel Kuhn, titled: “The Real Reasons the Grayscale Bitcoin ETF Decision Matters.” - From our sponsors: Meet the all-new Kraken Pro. The powerful, customizable, beautiful way to trade crypto. It’s Kraken's most powerful trading platform ever - packed with trading features like advanced order management and analytics tools — all in a redesigned, modular trading interface. Head to pro.kraken.com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax. - Simpluris: If you purchased FEI or TRIBE tokens in the Genesis Event between March 31st and April 3, 2021, a class action settlement may affect your rights. You can learn more about the settlement and file a claim here. - This episode was hosted by Michele Musso. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0	This episode of Markets Daily is sponsored by Cracken and Simplers.
0:08.8	It's Sunday, September 3rd, 2023, and this is Markets Daily from CoinDesk. Hi, I'm Michelle
0:14.5	Musa here with your featured story. On today's show, we're taking a deeper look at what the
0:18.8	grayscale Bitcoin ETF decision means
0:21.3	for the crypto industry. And just a reminder, CoinDesk is a news source and does not provide investment
0:26.8	advice.
0:32.8	Today's piece comes from CoinDesk's Daniel Kuhn. We'll be using Wondercraft AI to read the story.
0:39.2	The piece is titled The Real Reasons the Greyscale Bitcoin ETF decision matters.
0:45.8	The U.S. is one step closer to having a spot market Bitcoin exchange traded fund,
0:50.2	ETF, the holy grail of white-glove crypto financial products.
0:58.3	On Tuesday, a three-judge panel for the U.S. Court of Appeals delivered a crushing interpretation of the securities and exchange commission's logic for denying an ETF, finding the agency
1:03.4	acted capriciously and arbitrarily.
1:06.5	Now, that is what crypto folk have been saying for years.
1:09.4	In particular, the District of Columbia Court of Appeals sided with grayscale investments,
1:13.7	disclosure Coin Desk's sister company, in its pursuit to transition the massive grayscale
1:18.1	Bitcoin Trust, GBT, into an ETF.
1:21.8	More precisely, the judges granted Grayscale's petition for review, meaning the SEC will
1:26.0	have to review Grayscale's previously
1:27.5	rejected ETF application, and maybe come up with better reasons for denying it again.
1:32.6	Crypto is salivating not only over the court's pro-ETF ruling, but also its anti-SEC comments.
1:37.9	The top U.S. securities regulator fell, quote, short of the standard, made unexplained calls,
1:42.4	and, quote, failed to adequately explain, end quote,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.