Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday - Ep. 648

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 21 May 2024

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Just when everyone thought that spot Ether ETFs were going to be denied on Thursday, news broke Monday that they are now likely to be approved, with Bloomberg analysts tripling their odds to a 75% chance of approval. Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, and Matt Hougan, CIO at Bitwise Asset Management, say this reversal definitely has to do with politics, citing the fight of Staff Accounting Bulletin 121, a rule that was unfriendly to financial institutions wanting to engage with crypto. Plus, they delve into the reasons why Michael Sonnenshein stepped down as CEO of Grayscale after 10 years (hint: it has to do with GBTC), what the 13F filings revealed about who’s been buying the spot bitcoin ETFs since the beginning of the year, and what Vanguard’s incoming CEO, Salim Ramji, who was instrumental to getting BlackRock to launch its Bitcoin ETF, could mean for crypto’s future at the asset management firm. Show highlights: Why Eric believes the ether ETFs will be approved Why Matt thinks the Bitcoin ETFs set off a "complete sea change in Washington around crypto" Whether the spot Ether ETFs will be approved with or without staking Who the authorized participants and other behind-the-scenes players in the ether ETFs will be When the ETH ETFs could start trading and why Eric believes they won't be as successful as Bitcoin ETFs What the 13F filings revealed about the spot Bitcoin ETFs buyers and why their identities are "stunning" Why Michael Sonnenshein stepped down as CEO of Grayscale Grayscale’s new mini ETF, BTC Whether Vanguard's new CEO appointment could mean a change in attitude by the asset management firm towards crypto What a buffered ETF is and why they could be significant Matt's prediction for the BTC price Their outlook on the future of ETFs and developments in the space Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot VaultCraft Guests: Matt Hougan, Chief Investment Officer at Bitwise Asset Management Previous appearances on Unchained: How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence Previous appearances on Unchained: How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Will a Spot Bitcoin ETF Finally Get Approved? Links Ether ETFs Unchained: Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security CoinDesk: Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources The Block: Fidelity files amended S-1 registration statement, removing staking rewards from prospective Ethereum ETF SAB 121 Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance Unchained: Senate Votes to Kill SAB 121 Custody Bill: How Crypto Became So Political 13F Filings Unchained: Large Institutions Betting Big on Bitcoin ETFs Revealed in SEC Filings Leadership changes CoinDesk: Grayscale CEO Michael Sonnenshein Steps Down, to Be Replaced by TradFi Veteran WSJ: Meet Salim Ramji, Who Is Going to Oversee the Retirement Assets of Tens of Millions of Americans Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You had Wall Street fighting crypto, and then Black Rock came in, the EDFs were a success,
0:05.8	Tether is making more money than Goldman Sachs, and now you have Wall Street wanting to get in on that.
0:11.7	And it's no coincidence that Schumer is located in New York, that the
0:16.0	Financial Services Industry is the number one donor to his campaign. I just think there's
0:20.3	this unusual, uneasy alliance that emerged between crypto and
0:26.2	traditional Wall Street that is going to lift the industry higher and if we
0:30.0	continue to see these sorts of winds going to lift it to all-time highs.
0:33.0	Hi everyone, welcome to Unchained, your no-high resource for all things crypto.
0:40.8	I'm your host Laura Shin, author of The Cryptopians. I started
0:44.3	coming crypto nine years ago and as a senior editor Forbes was the first
0:47.3	made reporters to cover cryptocurrency and see full time. This is the May 21st
0:50.9	2024 episode of Unchained.
0:53.3	Did you know Unchained is much more than a podcast?
0:55.8	Last year we unveiled a completely redesigned website enriching your experience with the latest
0:59.8	news, insightful analysis, compelling op-eds, and comprehensive learning articles and
1:04.4	guides for beginners. Explore all this and more at unchained crypto.com.
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1:34.6	POGO upgrade will be a massive accelerator for the ecosystem, making it faster, more secure
	...

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