UNCHAINED | How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 27 October 2023
⏱️ 42 minutes
🧾️ Download transcript
Summary
Alex Thorn, head of research at Galaxy, sees inflows to spot bitcoin ETFs reaching more than $14 billion in the first year after a potential SEC approval and the price of bitcoin spiking to $47,000. He also sees approval of these products possibly occurring this year.
In a recent report, Alex Thorn, head of research at Galaxy, predicted that inflows to spot bitcoin ETFs would rise above $14 billion in the first year following the potential approval by the Securities and Exchange Commission of multiple applications the agency is considering. Thorn called the availability of this product significant because it will give financial advisors and wealth managers accessibility to digital assets in a way that will be acceptable to clients seeking exposure to crypto. He also believes approval of a spot BTC ETF could occur this year before the holidays and draws comparisons between Bitcoin and gold as investment products.
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Show highlights |
- Why Alex believes this is a significant moment for Bitcoin
- How, in Bitcoin, retail had access to this asset before institutions
- Why Alex expected the spot Bitcoin ETF approved this year
- What the capital inflows Galaxy expects to be in the first years and how they arrive at those numbers
- Whether the addressable market will increase significantly for Bitcoin
- What will be the average percentage of assets adding BTC exposure
- Why Alex compares Bitcoin to gold, and what he learned after comparing both types of assets
- How much the price of Bitcoin will increase after the first year of the ETF approval, according to Galaxy's report
- How the several spot Bitcoin ETFs will be differentiated
Thank you to our sponsors! Crypto.com | Arbitrum Foundation | Popcorn Network
Guest |
Alex Thorn, head of firmwide research at Galaxy
Links |
Previous coverage of Unchained on spot Bitcoin ETFs:
Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10
Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF
The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF
Unchained:
Bitcoin Soars Past $35,000 Amid Spot ETF Optimism
Bitcoin ETFs Explained: What Are They & How Do They Work?
CoinDesk:
BlackRock Bitcoin ETF in August Got on DTCC Site That Just Belatedly Moved Markets
12 spot bitcoin ETFs in consideration by the SEC
Galaxy:
Sizing the Market for a Bitcoin ETF
Alex’s thread drawing out highlights from the report
Alex’s thread on the potential for a “gamma squeeze”
CoinShares Digital Asset Funds Flow Weekly
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Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.
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Transcript
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| 1:07.0 | I mean, this is going to be, I know it seems crazy to us, but this is going to be a lot of people's |
| 1:10.7 | first introduction to Bitcoin, truly. |
| 1:13.6 | Tons of financial advisors, they haven't looked at it, right? |
| 1:16.9 | Once it's safely and cheaply available and it's right in the same menu that they do all of their other client investing, like they're, I believe they're going to have to consider it. |
| 1:32.4 | Hi, everyone. |
| 1:35.3 | Welcome to Unchained, your no-hype resource for all things crypto. |
| 1:38.8 | I'm your host, Laura Shin, author of The Cryptopians. |
| 1:43.2 | I started covering crypto eight years ago, and as a senior editor of Forbes, was the first mainstream media reporter to cover cryptocurrency full-time. This is the October 27th, 2023 episode of Unchained. Valtcraft |
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