Bitcoin ETFs Unlock a Wall of Money with Steven McClurg & Jeff Kilburg

 
 
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“Think of 10,000 people sitting outside the amusement park trying to get in, that’s the institutional investment community…that’s the next leg higher, that’s $100K Bitcoin.”
— Jeff Kilburg

SHOW DESCRIPTION

Location: Remotely
Date: Tuesday 20th April
Company: Valkyrie
Role: CIO, Partner

Since the Winklevoss applied for the first Bitcoin ETF in 2013, many Bitcoin ETFs have been filed and rejected. Since then, the Bitcoin market has matured, and with every rejection, those applying for ETFs gain more clarity on how one could eventually be approved. 

While there have been successful filings of ETFs in Canada and Brazil, these are smaller markets, and an ETF in the US would be a game-changer. With a growing number of applications piling up and more and more of the SEC’s objections becoming resolved, it seems inevitable that a US ETF will be approved.

A Bitcoin ETF would unlock access and liquidity for a massive pool of individuals, pensions, and other institutions that are stuck waiting on the sidelines and offer an option to those who want to remain in the traditional financial rails but gain exposure to bitcoin. 

The traditional investment world utilizes the security and established plumbing surrounding ETF vehicles to connect assets with IRAs, 401Ks, and even larger structures like endowment funds.

In this episode, I talk to Steven McClurg and Jeff Kilburg from Valkyrie. We discuss why Bitcoin ETFs are a game-changer, pent up institutional demand, and how soon they are coming.

TIMESTAMPS

00:05:21: Introductions
00:08:53: What is an ETF
00:10:52: Bernie Madoff
00:13:36: Think of an ETF as a basket
00:15:08: Fractional shares
00:16:15: Trading fees
00:18:43: The redemption process
00:20:16: The Grayscale Bitcoin Trust
00:23:14: Bitcoin ETFs
00:24:33: The different applications at play
00:26:58: SEC concerns over market manipulation
00:28:37: Recent price swings
00:31:51: Selecting the first ETF
00:34:43: ETFs providing increased access to Bitcoin
00:37:32: Jeff's Bitcoin story
00:39:20: Working the trading pit
00:44:02: What happens when an ETF launches
00:45:14: Valkyrie innovative balance sheet model
00:49:23: Banks vs Bitcoin
00:50:38: Choosing the model portfolio
00:52:26: Global Bitcoin ETFs
00:55:24: ETFs' effect on the potential supercycle
00:59:27: When Peter bought his car!
01:02:14: Final comments


 

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SHOW NOTES

PodcastPeter McCormack