James Seyffart
@JSeyff
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CFA. CAIA. ETFs. Cryptos. Asset Management. @Bloomberg. @bbgintelligence. Runner. Opinions my own. Likes, RT's & Follows≠endorsements
United States
Joined March 2012
Big news! We just launched a new function that allows @TheTerminal users to analyze the US asset management industry in a fully customized fashion. I've personally been working towards doing this for 8 years and today's the day. Here's a sample of US fund market share since 2006
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RT @EricBalchunas: LOOK OUT: $ETHA just hit $10b in one year flat, the 3rd fastest ETF to hit that mark in history after (you guessed it) t….
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RT @AlecStapp: You would fail a college student if they wrote this on an exam and yet the NYT publishes it as if it’s insightful https://t.….
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RT @AlexAndBooks_: Wealth isn’t a straight line, it’s a ladder. At each level, how you earn, spend, and invest money changes dramatically.….
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Hey guys. Seeing a lot of accounts reporting that Fidelity is now able to do in-kind creation/redemption with their Bitcoin ETF. The SEC hasn't yet allowed this. Its similar to these filings I tweeted about yesterday. We do expect the SEC to approve this. But they haven't yet.
NEW: More positive signs regarding Bitcoin & Ethereum ETFs obtaining the ability to do in-kind creation and redemption. 5 different funds on CBOE filed amendments with the SEC. This indicates to me that there is positive movement and likely fine tuning happening with the SEC
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RT @dollarsanddata: My book, The Wealth Ladder, is now available:.
amazon.com
Do you feel stuck financially? Are you working more, trying to spend less, yet still not seeing results? If so, the issue isn’t your effort—it’s your approach. This is where comes in. It’s not a...
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RT @kyle_chasse: THE FIRST 10-ASSET SPOT CRYPTO ETF JUST GOT APPROVED… THEN PAUSED. $BTC. $ETH. $XRP. $SOL. $ADA. $SUI. $LINK. $AVAX. $LTC….
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RT @CryptoMichNL: Today we talk about ETFs!. In our new episode of @new_era_finance, we talk about the $ETH ETF, other ETFs, and why the #E….
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RT @NateGeraci: Two theories from @JSeyff on why SEC holding up Grayscale & Bitwise crypto index ETFs. I lean towards the latter theory.….
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RT @TheBlock__: US SEC approved conversion of the Bitwise crypto index fund — then hit pause
theblock.co
The U.S. Securities and Exchange Commission approved the conversion of Bitwise's cryptocurrency index fund, but then quickly hit pause.
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RT @JSeyff: We have approval of the @BitwiseInvest 10 Index fund -- $BITW -- but just like @Grayscale's $GDLC earlier this month, Bitwise h….
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I agree with Scott here. Might be the SEC’s way of stalling these things from becoming ETFs before they come up with a digital assets ETF framework. AKA some sort of generic listing standard for what digital assets are allowed in an ETF wrapper and what criteria they’ll use.
This is another crypto index ETP, and it's also been stayed pursuant to Rule 431 (same as Grayscale's Digital Large Cap) to review the delegated authority order. I have to wonder what is going on at the SEC. I can excuse GDLC as an unforeseen unilateral Crenshaw wrench, but this.
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@BitwiseInvest @Grayscale Should add -- this wasn't due for a decision until next week. So the SEC went pretty early with this decision.
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We have approval of the @BitwiseInvest 10 Index fund -- $BITW -- but just like @Grayscale's $GDLC earlier this month, Bitwise has been stayed by either one or multiple commissioners. Meaning they cannot actually convert it into an ETF . *yet*
SEC Division of Trading & Markets has *approved* the Bitwise 10 Crypto Index ETF. However, like with the Grayscale Digital Large Cap ETF, this approval order is stayed. IMO, both of these should be allowed to convert/uplist asap. Bizarre situation.
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@EricBalchunas TLDR: This will make current and future crypto ETFs more efficient. But the vast majority of people won't even see a difference because the products on the market now already trade extremely efficiently. This will treat crypto ETPs the same as other ETPs are treated.
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@EricBalchunas Good question and one we get often. No. This is not gonna be for retail or normies to trade in shares of their ETFs for the underlying asset or vice versa. This would only be for the Authorized Participants (think big wall street firms and market makers)
@JSeyff @EricBalchunas Would this imply retail have a way to redeem in kind? Guessing brokers would have to support the physical. .
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