The Scoop Dissecting the failed bitcoin ETFs and 'mild soupy' with Bitwise COO Teddy Fusaro
Many have tried to launch a bitcoin-tied ETF, but all have failed. Bitwise Asset Management is one such fund manager, which had its proposal for a bitcoin-linked fund shot down by the Securities and Exchange Commission in January. Indeed, the fight for a bitcoin ETF dates all the way back to the Winklevoss' attempt to launch one with Cboe. The idea behind an ETF is that it would offer an onramp for investors who want exposure to bitcoin but are uninterested in holding the coins themselves. In this episode of The Scoop, Bitwise COO Teddy Fusaro joins us to discuss the elusive bitcoin ETF. In addition Fusaro and The Block's Frank Chaparro discuss:
- The history of the bitcoin ETF
- The reasons why regulators aren't keen on approving one, such as market manipulation and the lack of cross-exchange market surveillance
- How demand for a bitcoin ETF has translated into a premium for Grayscale's GBTC product and how traders can cash in on the premium
- A deep look at Bitwise and why Fusaro views it as an asset-manager and educator in the crypto market that unearths "hard truths"
- Fusaro harkens back on his Rhode Island, Italian heritage as he shares his favorite Italian delicacy with Chaparro
Episode 9 of Season 2 of The Scoop was recorded at The Block offices with Frank Chaparro and Teddy Fusaro, COO at Bitwise. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com