Unchained

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

Listen Later

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

              ...more
              View all episodesView all episodes
              Download on the App Store
              UnchainedBy Laura Shin
              • 4.6
              • 4.6
              • 4.6
              • 4.6
              • 4.6

              4.6

              1,184 ratings

              More shows like Unchained

              View all
              Real Vision: Finance & Investing by Real Vision Podcast Network

              Real Vision: Finance & Investing

              913 Listeners

              CoinDesk Podcast Network by CoinDesk

              CoinDesk Podcast Network

              646 Listeners

              The Breakdown by Blockworks

              The Breakdown

              741 Listeners

              The Pomp Podcast by Anthony Pompliano

              The Pomp Podcast

              1,843 Listeners

              On The Brink with Castle Island by Castle Island Ventures

              On The Brink with Castle Island

              288 Listeners

              What Bitcoin Did by Danny Knowles

              What Bitcoin Did

              267 Listeners

              Markets Outlook by CoinDesk

              Markets Outlook

              137 Listeners

              The Wolf Of All Streets by Scott Melker

              The Wolf Of All Streets

              243 Listeners

              Empire by Blockworks

              Empire

              168 Listeners

              Supply Shock by Blockworks

              Supply Shock

              109 Listeners

              Coin Stories by Natalie Brunell

              Coin Stories

              440 Listeners

              Raoul Pal: The Journey Man by Real Vision Podcast Network

              Raoul Pal: The Journey Man

              135 Listeners

              Forward Guidance by Blockworks

              Forward Guidance

              277 Listeners

              The Milk Road Show by The Milk Road Show

              The Milk Road Show

              51 Listeners

              Limitless Podcast by Limitless by Bankless

              Limitless Podcast

              66 Listeners