Hunter Horsley is the Co-founder and CEO of Bitwise. In this interview, we discuss the launch of the Bitcoin ETFs, including the impact on investors and the investment market, and the broader implications for the monetary system and the future of Bitcoin. We talk about regulatory challenges and the importance of educating financial advisors on Bitcoin. The conversation also covers the mechanics of ETFs, the role of authorized participants and the services Bitwise provide.

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The approval of the Bitcoin ETFs marks a historic moment, akin to the launch of the first gold ETF in 2003, and sets the stage for future developments in the ETF space. However, the road to launching a Bitcoin ETF has been fraught with regulatory hurdles and challenges. Hunter Horsley sheds light on the arduous process Bitwise underwent to obtain approval for their ETF.

One of the most significant advantages of a Bitcoin ETF is providing a regulated and disciplined investment option for Bitcoin. Hunter highlights how ETFs offer investors peace of mind and protection against risks, which is particularly beneficial for retirement accounts like IRAs. The introduction of the ETF has also led to a substantial reduction in fees, making Bitcoin investment more accessible and cost-effective.

We discuss how the introduction of Bitcoin ETFs has changed the landscape for financial advisors. Historically, advisors were reluctant to recommend Bitcoin due to its volatility and perceived risks. However, the ETF provides a more secure and familiar investment vehicle, which is shifting attitudes in the market. Hunter stresses the need for education and resources to help advisors incorporate Bitcoin into their clients' portfolios.

Hunter foresees a future where most investment portfolios will include some allocation towards Bitcoin. This shift could introduce a significant new buyer into the market. With the macroeconomic backdrop, potential rate cuts, and the upcoming halving, there is optimism about the setup and potential benefits for investors. There is now real potential for Bitcoin to become a relevant asset for long-term-oriented investors.

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Show notes: https://www.whatbitcoindid.com/podcast/orange-pilling-wall-street

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