Crypto Update: Bitcoin ETFs Trade $111 Billion and Assessing the Launch Timeline for Ethereum ETF

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On "Markets Daily," CIO of Bitwise, Matt Hougan, joins Markets Daily with insights on the recent trends in crypto assets, focusing on Bitcoin and Ether, and how ETFs have influenced their trading volumes. It credits the success of Bitcoin ETFs to making Bitcoin more accessible to a broader investor base. Hougan also explores Bitcoin's volatility and its potential to reach new highs, while addressing the outflows from Grayscale's GBTC and the chance for reduced fees. Additionally, the impact of Fed Chair Jerome Powell's upcoming speech is considered less significant than the effects of ETF inflows and the Bitcoin halving event on Bitcoin's price.

Takeaways |

• Bitcoin ETFs have contributed to increased trading volumes and accessibility of Bitcoin to a wider range of investors.
• Bitcoin's volatility is seen as part of a fixed channel, and the expectation is that it will surpass its previous all-time high.
• Outflows from Grayscale's GBTC are attributed to the availability of lower-cost products and the need for investors to do due diligence.
• The introduction of an Ethereum ETF may be more beneficial after the market has had time to digest Bitcoin ETFs.
• The flows into ETFs and the Bitcoin halving are expected to have a greater impact on Bitcoin's price than the actions of the Fed.

LINKS |

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This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.