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


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#bitcoin #ethereum #crypto #cryptocurrencies
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