April 03, 2024

Crypto Update: Bitcoin ETFs Trade $111 Billion and Assessing the Launch Timeline for Ethereum ETF

14 minutes

The latest price moves and insights with Helene Braun and Matt Hougan, Chief Investment Officer at Bitwise.

To get the show every day, follow the podcast here.

On "Markets Daily," CIO of Bitwise, Matt Hougan, joins Markets Daily with insights on the recent trends in crypto assets, focusing on Bitcoin and Ether, and how ETFs have influenced their trading volumes. It credits the success of Bitcoin ETFs to making Bitcoin more accessible to a broader investor base. Hougan also explores Bitcoin's volatility and its potential to reach new highs, while addressing the outflows from Grayscale's GBTC and the chance for reduced fees. Additionally, the impact of Fed Chair Jerome Powell's upcoming speech is considered less significant than the effects of ETF inflows and the Bitcoin halving event on Bitcoin's price.

Takeaways |

Bitcoin ETFs have contributed to increased trading volumes and accessibility of Bitcoin to a wider range of investors.

Bitcoin's volatility is seen as part of a fixed channel, and the expectation is that it will surpass its previous all-time high.

Outflows from Grayscale's GBTC are attributed to the availability of lower-cost products and the need for investors to do due diligence.

The introduction of an Ethereum ETF may be more beneficial after the market has had time to digest Bitcoin ETFs.

The flows into ETFs and the Bitcoin halving are expected to have a greater impact on Bitcoin's price than the actions of the Fed.

LINKS |

CoinDesk 20

Bitcoin Back Down to $66K as Rising Treasury Yields Catch Investor Interest

Consensus 2024 is where experts convene to discuss ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Take 15% off registration with the code MD15.

Register now at consensus.coindesk.com.

This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.

...more