Crypto Update | Slowing Inflows of ETF Investments: the Evergreen Story of Crypto

The latest price moves and insights with Jenn Sanasie and General Partner at Dragonfly Tom Schmidt. To get the show every day, follow the podcast here. On "Markets Daily," Tom Schmidt, General Partner at Dragonfly, discusses market pricing, indicating a 0% probability of a rate cut in June. He and Sanasie delve into the disappointing performance of Hong Kong ETFs compared to US ETFs, highlighting the former's role as an accessible vehicle for Bitcoin investment endorsed by regulators. Despite Hong Kong's crypto-friendly environment, ETF inflows are slowing in both Hong Kong and the US, with investors shifting towards lower-cost options to reduce fees and improve returns. The conversation anticipates a potentially more hawkish tone from the upcoming Fed meeting but remains optimistic about controlling inflation. They also touch on conflicting views regarding inflation and rate cuts, noting external pressures favoring lower rates to stimulate the economy. Chapters | 00:00 Introduction 02:15 Hong Kong ETFs 04:15 Regulatory Endorsement: The ETF's Impact on Bitcoin as an Asset Class 06:38 Conflicting Ideas on Inflation and Rate Cuts 08:45 The Future Price Range of Bitcoin 10:56 The Importance of Regulatory Compliance 13:02 The Potential Turf War Between the SEC and CFTC 13:43 The Need for Clarity and a Clear Path Forward 14:31 The Importance of Points in Bootstrapping Networks 15:30 The Future of Liquidity Mining and Points LINKS | CoinDesk 20 Dragonfly Capital - Consensus 2024 is where experts convene to discuss ideas shaping our digital future. Join developers, investors, founders, brands, policymakers, and more in Austin, Texas from May 29-31. CoinDesk curates the tenth annual Consensus to feature the industry’s most sought-after speakers, unparalleled networking opportunities, and unforgettable experiences. Take 15% off registration with the code MD15. Register now at consensus.coindesk.com. - This episode was hosted by Jenn Sanasie. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.