How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years - Ep. 616

Eric Balchunas of Bloomberg Intelligence explains why the spot Bitcoin ETFs have made TradFi move at the speed of crypto - and why he’s uncertain spot Ether ETFs will be approved.
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In this episode, Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, discussed the performance of Bitcoin ETFs since their launch two months ago.
Balchunas noted that the ETFs' performance exceeded his expectations, with a faster and more intense "second wind" than anticipated. He attributed this to a combination of asset managers buying in, retail interest, and the "ETF effect" where the knowledge of incoming flows encourages non-ETF investors to buy.
Balchunas also predicted that BlackRock's Bitcoin ETF would likely be the most successful of the nine new spot Bitcoin ETFs, while also doubting that any of the smaller issuers would bow out.
He also discussed the potential for spot Ether ETFs, but was less optimistic about their success compared to Bitcoin ETFs.
Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work?
Show highlights:
🔹 Why the Bitcoin ETF performance in the first couple of weeks exceeded Eric's expectations
🔹 Whether Eric had ever seen the kind of hype around Bitcoin ETFs occur with other ETFs
🔹 How there has been a lot of retail interest in these past few weeks
🔹 Eric's insights into how bitcoin reached all-time highs again this week
🔹 Whether a good portion of the ETF volumes is sustainable and what's driving those large volumes
🔹 Whether it's safe to say that BlackRock is the winner among issuers
🔹 Whether the smaller issuers in terms of volume and AUM will close their ETFs
🔹 When options on Bitcoin ETFs will be approved
🔹 Whether in-kind redemptions will be allowed in the near future and the role of politics in that
🔹 Whether Grayscale will have to reduce its fees considering the huge outflows from GBTC
🔹 Why Eric believes that spot ether ETFs won't have as much demand as the bitcoin ETFs did
🔹 Reasons the SEC could use to reject spot ether ETFs
🔹 Whether issuers will rebalance their portfolios at the end of quarters
🔹 What Eric expects to see in terms of inflows by year’s end
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Guest
⭐️Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence
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Time Stamps:
00:00 Introduction
01:35 Bitcoin ETF performance in the first weeks
10:38 Bitcoin's rally to all-time highs
15:15 BlackRock: the winner?
18:14 When options will be approved
19:01 In-kind redemptions
19:55 Outflows from GBTC
22:36 Ether ETFs won't have as much demand?
27:01 Approval of ETH ETFs
36:36 Short-term projection for bitcoin
38:23 Long-term inflows in the ETFs
44:23 Weekly recap
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
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Пікірлер: 25

  • @davidlovesgolf
    @davidlovesgolf4 ай бұрын

    Laura, love your show. Thanks for inviting Eric to speak with you. Very few people can match his deep experience, excellent analysis and clear insights. Great interview!

  • @AkxTremisT
    @AkxTremisT4 ай бұрын

    Eric has Done wonderful Job on this Bitcoin ETFs insights.. He has done it very passionately

  • @aswellasican
    @aswellasican4 ай бұрын

    Thank you Laura and Eric!

  • @silloh888
    @silloh8884 ай бұрын

    Very interesting perspective on ETH ETF. thanks :)

  • @nick-oi1xf
    @nick-oi1xf4 ай бұрын

    Eric is completely right about bitcoin being Nirvana and Ethereum being the opening act😂 Btw, Ethereum IS totally a security and it's only use case is to trade scam tokens.

  • @meyroakabigrem1679
    @meyroakabigrem16794 ай бұрын

    I agree. The approval of an ETH etf would basically be a perversion of core SEC rules. It really cannot conceivably happen under current securities laws.

  • @bkkmj4250
    @bkkmj42504 ай бұрын

    BTC is Gold and ETH is Silver…most people understand none of these. Just like most don’t understand what most companies do, but they can understand value. Explain what NVIDA or Palantir really does at at detailed level beyond chips, software and AI….quality always shines.

  • @charlesmiller6281

    @charlesmiller6281

    4 ай бұрын

    Ethereum is the mother asshole from which all shitcoins spring.

  • @peterpetrov6522
    @peterpetrov65224 ай бұрын

    It's the Macarena Mania again!

  • @nick-oi1xf
    @nick-oi1xf4 ай бұрын

    You're a treasure, Laura

  • @martian31v5
    @martian31v54 ай бұрын

    Sister Hazel was a very adequate band.

  • @TheBeav30
    @TheBeav304 ай бұрын

    Eric is great guy but he has not done his homework on ETH spot ETF. Which is understandable BTC spot ETF has been huge. But per VanEck’s research summited to SEC showing correlation ETH spot to ETH CME futures at 99.8% from 9/1/22 through 9/1/23. He also sites low ETH futures interest but anyone interested in ETH would simply buy grayscale ETHE product as it was trading at a discount and the likely hood of a ETH spot ETF was significantly improved after BTC spot was approved, why would anyone want a inferior futures product when they could buy a product that is likely to be converted into spot ETF and is currently selling at a small discount to NAV. Currently ETHE has over 10 billion in AUM, that is about 1/2 that of GBTC. To me that’s not small fries

  • @SAL-fs1mr
    @SAL-fs1mr4 ай бұрын

    Once you truly understand Bitcoin, you sell all your altcoins, buy BTC, and hold for 10 years. Again, you can only become convinced of this plan once you truly understand bitcoin. So if you aren't convinced, you need to focus and learn more about Bitcoin.

  • @mrbmro3991

    @mrbmro3991

    4 ай бұрын

    So glad you said this. People need to put the work in, put at least 100 hours in, (which people do with Netflix and music all the time). Do the proof of work to understand what bitcoin is Vs these dumb comments this lady mentioned about "bitcoin scripting language is limited, there trying to make it more like ether". she interviewed Michael Saylor a few months ago, did she not learn anything? It's by design that bitcoin is non touring complete. This is to avoid complexity and to keep it simple and to avoid people tinkering with the protocol and constantly changing it, just like they do with other cryptos and just like people did with the money supply. The whole point is that bitcoin is a base layer and it is a constant. Once you have a constant, like gravity, you can then start to build on. She has no clue about bitcoin at all. She will go broke and everyone else who doesn't want to spend time to put the work in to understand bitcoin.

  • @BitcoinMoonShot
    @BitcoinMoonShot4 ай бұрын

    The 10,000$ Red Candle is "The Hand of God Candle"! Or rumor has it Coinbase's Bull Run Prevention unit. Coinbase only shuts down retail side...

  • @justkaz7104
    @justkaz71044 ай бұрын

    74

  • @oscarmike4596
    @oscarmike45964 ай бұрын

    👍

  • @hankson5002
    @hankson50024 ай бұрын

    You can stop the unworthy shitcoining - as someone told you a long time ago - it's going up forever Laura.

  • @a88888888a
    @a88888888a4 ай бұрын

    eric knows alot about etfs but knows very little about crypto and crypto vs btc. Eth is the king.....of shitcoins. All cs students know this. Can trade eth but none the less it's still a shitcoin

  • @hiuofwreqc
    @hiuofwreqc4 ай бұрын

    Wtf is all these shitcoin commercials inbetween?? Did she not learn anything from SBF Blockfi Celsius nonsense? They all go to zero and they all went to jail oh man..

  • @KYFHOme

    @KYFHOme

    4 ай бұрын

    Like so many, unfortunately she embraced shitcoinery. It happened years ago. As a "journalist" she probably thought it was important to cover all the "new tech." She's very intelligent, but apparently she doesn't quite grasp how there is only one "first" with no pre-mine and no VCs and true decentralization. I think G. Gensler is correct that there is BTC, and the rest are securities. I love it how Michael Saylor told her "It's going up forever Laura."

  • @matthewmaguire3554

    @matthewmaguire3554

    4 ай бұрын

    New to all of this…Do podcasters get to choose the adds on their podcast?

  • @and1play5
    @and1play54 ай бұрын

    this guy is ignorant

  • @nick-oi1xf

    @nick-oi1xf

    4 ай бұрын

    Let me guess, you hold Ethereum?

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