It’s been quite the week of drama watching the final approval by the SEC of the launch of spot bitcoin ETFs in the US. First we had what Bloomberg’s Eric Balchunas described as the Terrordome as US ETF issuers reduced their fees in a frenzy down to 0 per cent in a bid to get in first with the new assets.
Then, ‘you couldn’t make this up’, as CEC Capital’s Laurent Kssis commented to me, we had a hacker announcing the approval had been granted on Twitter, (another reader commented that the SEC didn’t appear to have two step authentication on their Twitter account), a full 24 hours before it was. As Chris Sullivan from Craft & Capital said mid-week – “Is it still only Wednesday?”
We have covered all of this over the week and I will let you read it all at your leisure. This one is going to run and run…
There were other issues – not the least the launch of the 14th iteration of the popular European ETF Express Awards with the opening of the nominations for service providers.
Finally, we bring you the latest Off The Record, in partnership with TrussEdge, which takes a look at the semi-transparent ETF structure in the US.
Follow this link to hear the views of Antonette Kleiser of Brown Brothers Harriman and Terry Norman of Blue Tractor.
Beverly Chandler, Managing Editor