Bitcoin ETFs Impact Discussion
James Seyffart, an ETF analyst at Bloomberg, recently discussed the potential impact of Bitcoin ETFs and the strategies various issuers might employ. According to Seyffart, different ETFs are taking varied approaches to appeal to investors.
Importance of Ticker Symbols
Seyffart emphasized the importance of ticker symbols in an interview with Thinking Crypto. He suggested that some ETFs are designed to be more viral and meme-oriented, while others take a more conventional approach, targeting the older demographic often referred to as “Boomers.”
Caution about ETFs and Partnerships
Seyffart expressed caution about picking favorites among these ETFs, and noted the significance of partnerships with major financial institutions like JPMorgan, Goldman Sachs, and Jane Street. He stated that their involvement signifies credibility and contributes to the efficiency and liquidity of the ETFs.
Ownership and Speculation
Seyffart clarified that ETFs can’t transfer existing Bitcoin into the ETFs and anticipated that significant buying would likely occur on the first days of trading once approved. He also indicated that Bitcoin and Ethereum stand out due to existing regulated futures markets and expressed skepticism about XRP getting approval in 2024, citing ongoing legal challenges.
Hot Take: Potential Approval for Bitcoin and Ethereum ETFs
Seyffart emphasized that Bitcoin and Ethereum are on a pedestal for possibly getting approved this year, with a remote possibility for XRP. He doesn’t believe XRP will get approval this year unless the court case is completely done, citing ongoing legal challenges and the SEC fighting against Ripple in court.
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