Last week was perhaps one of the biggest weeks in the history of cryptocurrency, as the SEC finally approved 10 spot bitcoin ETFs from a range of issuers. To help ETF-oriented investors better understand these products, and the cryptocurrency industry overall, VettaFi hosted a Cryptocurrency Symposium on January 12, 2024. The event was a success that included some of the top firms and individuals in the crypto industry offering insights into several different cryptocurrency-related topics.
Below, readers will find a summary of some of the key points the speakers shared at the event and links to additional coverage from some of the sessions. To view the playback of the Cryptocurrency Symposium, please register for the on-demand replay here.
The Crypto Revolution: Understanding Crypto’s New Place in the Market
In the first panel of the symposium, moderator Tom Lydon, vice chairman of VettaFi, spoke with Jonathan Steinberg, founder and CEO of WisdomTree, and Matt Hougan, chief investment officer at Bitwise Investments. The trio discussed how the release of spot bitcoin ETFs will affect the ETF industry at large. In addition, both speakers also shared why they feel it is important to offer ETFs that give advisors exposure to digital currencies.
To learn more, read our coverage of the session: “WisdomTree’s Steinberg, Bitwise’s Hougan Talk Spot Bitcoin ETFs.“
The Case for Bitcoin in 2024
During the second panel of the symposium, Todd Rosenbluth, head of Research at VettaFi, was joined by Cathie Wood, founder, CEO, and CIO of ARK Invest, and Ophelia Snyder, co-founder and president at 21Shares. Wood and Snyder shared the importance of investors learning more about the ins and outs of bitcoin. The duo also gave their insights into what their expectations are for bitcoin in 2024 and beyond. Additionally, Wood and Snyder discussed how the ARK 21Shares Bitcoin ETF (ARKB) separates itself from the other funds currently on the market.
Maximizing the Potential of Spot Bitcoin ETF Investments
Paul Cappelli, head of liquid passive strategies at Galaxy Asset Management, and David LaValle, global head of ETFs at Grayscale Investments, joined the symposium to give their take on the approval of spot bitcoin ETFs. The pair also explores the benefits of these products, and how to include them in a portfolio effectively.
To learn more, read our coverage of the session: “Spot Bitcoin ETFs ‘Massive Win for the Advisor Community,’ Grayscale Says.“
Special Session With Eric Balchunas: How Did We Get Here?
In a special session at the event, Lydon and Rosenbluth were joined by Bloomberg’s Eric Balchunas to get his take on the spot bitcoin ETF saga. The trio explored what factors matter the most to advisors when choosing among the several spot bitcoin ETFs that are now on the market. Additionally, Balchunas explored what the release of these products will mean for the cryptocurrency industry at large moving forward.
Crypto Miners: Publicly Traded Miners Offer an Investment Option That Focuses on Cryptocurrency Supply
The conversation then shifted gears when Tom Lydon was joined by Frank Holmes, executive chairman at HIVE Digital Technologies, to discuss the process of mining digital currencies. Furthermore, the pair explored crypto mining stocks and expectations for bitcoin’s price moving forward.
Future of Digital Assets: Spot Bitcoin ETFs & Beyond
Jay Jacobs, U.S. head of thematics and active equity ETFs at BlackRock, joined the symposium to discuss several different cryptocurrency-related topics. He first gives his take on what spot bitcoin ETFs offer investors and advisors. Moreover, Jacobs explained the importance of blockchain and shared how its technology could affect the overall cryptocurrency landscape.
Overcoming Investor Reluctance Toward Crypto
David Mann, SVP and head of ETF product & capital markets at Franklin Templeton, and Kyle DaCruz, director of digital asset product at VanEck, joined the symposium to share their philosophies on how to conquer investors’ fears when it comes to cryptocurrency. Mann and DaCruz also address some of the benefits and risks bitcoin proposes to investors by adding it to their portfolios.
Recapping Cryptocurrency Strategies for Advisors
To close the symposium, moderators Tom Lydon and Todd Rosenbluth recapped some of the points they appreciated the most from the speakers and firms at the event. Overall, the Cryptocurrency Symposium offered investors and advisors deeper insights into the cryptocurrency industry from some of the experts who are on the front lines of it. To view the playback of the Cryptocurrency Symposium, please register for the on-demand replay here.
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