In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann, along with guest Hal Press, founder of North Rock Digital, dive into the intricate challenges of pitching the ETH spot ETF to traditional finance and the Federal Reserve’s anticipated next steps. They discuss why Biden vetoed the repeal of SAB 121, and why that veto lends credence to an alternative theory as to why the SEC approved Ethereum ETFs.
Also, they talk about why the spot ETH ETFs are already turning out to be different from the Bitcoin ETFs, Hong Kong's (and perhaps China’s?) crypto ambitions, recent U.S. macroeconomic indicators, and whether or not Roaring Kitty’s recent antics with GME stock are illegal—and how he’s impacting memecoins.
Show highlights:
Why Biden vetoed the repeal of SAB 121 and whether it was priced inThe recent political change around crypto and the surprise Gen Z celebrity who could swing the U.S. presidential electionThe impact of the Trump conviction on the crypto industryWhy ETF issuers were caught off guard with the spot ETH ETF approvalsWhether Bitcoin ETF buyers will rotate to Ethereum, and when the products will launch How the ETH ETF will be pitched to TradFi Why Alex thinks ETH/BTC will go up How Hong Kong is trying to become the Wall Street of crypto, according to JoeThe recent macroeconomic indicators in the U.S. and their implications for cryptoThe massive glitches in the NYSE that showed Berkshire Hathaway going down 99%Whether what Roaring Kitty is doing with the GME stock is illegalJames Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric
Hal Press, Founder of North Rock DigitalLinks
Politics:
Unchained: President Biden Vetoes SAB121 RepealUnchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited?POLITICO: Crypto super PACs get $25M boostFortune: Coinbase donates $25 million to super PAC Fairshake days after Biden vetoes crypto custody billUnchained: Ethereum ETFs Likely Protect Ether From the SEC. But What About Staked ETH? Why the SEC May Not Be Done in Its Legal Battles Over EthereumWhy ETH Spot ETFs Could Benefit Stakers and Make Ethereum More ResilientETH ETFs Will Be Approved. But Could Grayscale Outflows Depress the Price of ETH?Blockworks: What we learned from the latest ETH ETF filing dumpHong Kong
- Bloomberg: Hong Kong Says 11 Crypto Exchanges Are Closer to Getting Permits
CNN Business: Berkshire Hathaway: NYSE says glitch that showed stock down 99.97% has been resolved WSJ: E*Trade Considers Kicking Meme-Stock Leader Keith Gill Off Platform 00:00 Intro01:59 Why Biden vetoed the repeal of SAB 121 and whether it was priced in08:43 The recent political change around crypto and whether this particular Gen Z celeb could swing the U.S. presidential election12:07 What the impact of the Trump conviction had in the crypto industry15:38 Whether Bitcoin ETF buyers will rotate to Ethereum, and when the ETH ETFs will launch 25:53 How the ETH ETF will or should be pitched to TradFi 31:02 Why Alex thinks ETH/BTC will go up 32:48How Hong Kong is trying to become the Wall Street of crypto, according to Joe36:27 The recent macroeconomic indicators in the U.S. and their implications for crypto45:15 The massive glitches in the NYSE that showed Berkshire Hathaway going down 99%49:26 Whether what Roaring Kitty is doing with the GME stock is illegal
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