UNCHAINED: How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 January 2024
⏱️ 70 minutes
🧾️ Download transcript
Summary
Bitwise’s Matt Hougan and VanEck’s Matthew Sigel delve into the details of the first two days of trading and what each company tried to focus on with its offering.
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Thursday was a momentous day in crypto as the first SEC-approved spot Bitcoin ETFs finally began trading after more than a decade of waiting, and by almost all accounts, it was a huge success, with more than $625 million in inflows on the first day of trading.
Bitwise CIO Matt Hougan and VanEck head of digital assets research Matthew Sigel joined Unchained to discuss their approaches towards selling their products in the market, the challenges of competing with larger firms like BlackRock and Fidelity, the fee wars and where those are headed, the importance of specialist expertise in the crypto investment space, and how Bitcoin prices might react to all the new supply in the market.
Show highlights:
- Why Matt Hougan regards the first week as a massive success for Bitcoin
- How Matthew Sigel emphasizes the costs and benefits ETFs offer to retail investors
- The strategic marketing approaches of VanEck and Bitwise aligning with Bitcoin community values
- The reasons for Bitwise's standout performance in the first days of trading, according to Matt
- Whether the introduction of Bitcoin ETFs will reshape the broader ETF landscape
- Matt's perspective on why some financial institutions resist Bitcoin, and their eventual openness to crypto
- Whether the established players in finance feel threatened by the rise of open-source technologies
- Whether Gary Gensler’s statement after the approval is “totally crazy”
- Why data for the various ETFs in the market should be analyzed on a weekly or monthly basis
- The ongoing fee competition and how smaller entities can compete against giants like BlackRock and Fidelity
- Grayscale's strategies to remain competitive with higher fees and the possibility of launching a new, low-fee ETF
- How investment advisors might adapt to these new crypto products and the potential for mainstream adoption
- Matthew’s predictions for when BTC investors, both short-term and long-term, will take profits
- Why they are both closely monitoring Ethereum's performance and the prospects for a spot ether ETF in the market
Thank you to our sponsors! Arbitrum Foundation | Popcorn Network
Guests:
Matt Hougan, Chief Investment Officer at Bitwise Asset Management
Previous appearances on Unchained: Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10
Matthew Sigel, Head of Digital Assets Research at VanEck.
Links
Previous coverage of Unchained on spot Bitcoin ETFs:
Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs
Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday
Why the SEC May Want Cash Creation of Spot Bitcoin ETFs
Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF
Will a Spot Bitcoin ETF Finally Get Approved?
The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share
How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
Approval:
Unchained:
Spot Bitcoin ETFs Finally Receive SEC Seal of Approval
What Officials, ETF Issuers, and Others Are Saying About the SEC's Spot Bitcoin ETF Approvals
Laura Shin’s op-ed on Unchained: Why Spot Bitcoin ETFs Are (But Mostly Aren't) a Big Deal for Crypto
David Z. Morris’ op-ed on Unchained: The SEC’s Bumbling Bitcoin ETF Rollout Was Perfectly On-Brand
First days of trading
Unchained:
Spot Bitcoin ETFs Record $4.6 Billion First Day Trading Volume
Spot Bitcoin ETF Inflows Topped $625 Million on First Day in ‘Phenomenal’ Debut, Led by Bitwise
Vanguard Isn’t Allowing Customers to Buy Spot Bitcoin ETFs
Ether Rallies on Optimism Following Spot Bitcoin ETF Approvals
Spot Bitcoin ETF Approval Sparks Altcoin Rally
CoinDesk: UBS and Citi Will Let Some Customers Trade Bitcoin ETFs, Contrary to Rumors
The Block:
BlackRock's new spot bitcoin ETF tops $1 billion in big first day of trading
Blockworks: Spot bitcoin ETF volumes eclipse $4.5B on first day of trading
Fees
Unchained:
VanEck Pledges 5% of Profits From Yet-to-Be-Approved Spot ETF to Bitcoin Core Developers
Fee Competition Heats Up Among BlackRock and Other Spot Bitcoin ETF Applicants
Bitcoin ETF Fee War Could Make Investing in Bitcoin Cheaper Than Using an Exchange
BlackRock, ARK 21Shares Lower Bitcoin ETF Fees Again as Approval Looms
Bitwise will donate 10% of the profits of the Bitwise Bitcoin ETF
Learn more:
Unchained:
Bitcoin ETFs Explained: What Are They & How Do They Work?
Why The Spot Bitcoin ETF Is a Big Deal
Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF?
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Transcript
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