Coinshares’ Meltem Demirors lays out bitcoin’s next battleground after ETF approval

Meltem Demirors, Coinshares, joins ‘Fast Money’ to talk bitcoin ETF approval and its impact on the crypto space.

>>> WELCOME BACK TO “FAST MONEY.” CRYPTO INVESTORS STILL EAGERLY AWAITING A SPOT ETF REPORTS OUT IN THE LAST HOUR, THAT THE IS TELLING PEEP TO FILE FINAL PAPERWORK. AFTER APPROVAL THERE’S A NEW BATTLEGROUND IN THE SPACE. I WANT TO GET TO THE BATTLEGROUND IN A MINUTE.

NOW WE KNOW THE VOTE IS SCHEDULED FOR SOMETIME NEXT WEEK ON THESE VARIOUS APPLICATIONS, IS THIS GOING TO BE A SELL THE NEWS EVENT? >> WELL, FIRST OF ALL, I THINK WE NEED TO GET A LITTLE CHIMNEY, LIKE THE PAPAL CONCLAVE WAITING FOR THE WHITE SMOKE.

I NEVER WANT TO TALK ABOUT ETFs AFTER THIS. I DON’T THINK THIS IS A SELL THE NEWS EVENT. HERE IS WHY. LET’S TALK ABOUT FLOWING. I LOVE TALKING ABOUT NOWS AND THAT’S HOW WE FIGURE OUT SENTIMENT. IF WELOOK AT WHAT HAPPENED LAST YEAR. 243 MILLION OF FLOWING INTO

CRYPTO, 2.2 BILLION FOR THE YEAR LAST YEAR. IT’S NOT STOP. THERE’S DEMAND FOR BITCOIN, WHEN THE NEW PRODUCTS LAUNCH, WE HEARD THERE’S ONE ISSUER FEEDING THEIR FUND WITH $200 MILLION. RUMORS THAT BLACKROCK IS COMING IN WITH 2 MILLION. ALL OF THAT IS LEADING TO BITCOIN.

I DON’T THINK IT’S A SELL THE NEWS EVENT. >> SO WHAT’S THE BALLOTS GROUND? >> FEES, BABY, WE’RE ALL ABOUT THE FEES. HERE’S WHAT’S INTEREST. FIDELITY CAME OUT GATE, 39 BASIS POINTS. THAT’S PRETTY LOW FOR A SPECIAL ETF. WE WERE THINKING IN THE 70 TO

100 BASIS POINT RANGE. GRAYSCALE TRUST IS 250 BASIS POINTS. FIDELITY AT 39, INVESCO AND GALAXY ARE ZERO UNTIL THE FIRST 5 BILLION IN A.U.M. SO THE FEE GAME WILL BE INTERESTING, BECAUSE THEY’RE ALL THE SAME THING HOW MUCH WILL BRAND MEMBER AND HOW MUCH WILL

BE ABOUT FEES? >> THANKS FOR JOINING US. WHAT’S AFTER BITCOIN? YOU KNOW, WE BEGIN THE PROCESS FOR MOVING OUT CRYPTO, IN TERMS OF LIQUID AND EXPOSURE BIT COUNSEL HAS THE MOST CLARITY. IT’S NOT A SECURITY. THERE’S NO INTERPRETATION AS SUCH I THINK BITCOIN NEEDS TO

TAKE TIME JUST BECAUSE THERE ISN’T THAT LONG TRACK RECORD. AS OF TWO YEARS AGO, BITCOIN IS 15 YEARS OLD. THE FIRST BLOCK WAS MINED 15 YEARS AGO. IT’S BEEN AROUND A LONG TIME. BALLOTS TESTED. MARKETS ARE DEEP, VERY LIQUID WHAT WE DO KNOW IS THERE’S TREMENDOUS INVESTOR DEMAND.

TODAY THERE’S OVER 50 BILLION IN GLOBAL A.U.M. NOW 38 BILLION OF THAT, IS IN BITCOIN, BUT ETHEREUM, AND THE