Everyone Is Wrong About The Bitcoin ETF – Mark Yusko

In this video of “Unscripted Crypto,” we delve into the complex world of ETFs and their intersection with the cryptocurrency market. We explore the intricate strategies of major financial firms in ETF scalping, analyze the significant impact of the SEC’s recent approval of Bitcoin ETFs, and discuss the strategic approaches of entities like BlackRock in the ETF space. Additionally, we look at the implications of these developments for investors and the broader financial landscape, underscoring the importance of staying informed in a rapidly evolving market. Join us as we uncover key insights into the dynamic world of finance and digital assets.

Mark W. Yusko is an American investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management, an investment management firm that advises pension funds, endowments and wealthy individuals.

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There’s a massive business of scalping ETFs and and this is not didn’t just start yesterday this is this goes on every single day there are firms like aqr and and others they have entire Quant groups and Millennium and and a bunch of the big hedge funds uh

Renaissance they they do this all day so there were a lot of people who were shorting Bitcoin and buying you know the ET ETF or or you know shorting the ETFs and and buying Bitcoin or shorting Bido and buying you know fbtc and I mean the

Amount of of Arbitrage that goes on and part of it is because of of the unique ways they trade right ETFs trade the literally the last minute of the day right they don’t actually trade all day they they actually do their buying and selling uh the last minute of the day

And so there’s a whole bunch of stuff that’s going on Mark yuso gives us information about the intricate world of ETF scalping a practice deeply entrenched in the fabric of financial markets this strategy utilized by Major firms like akr and Renaissance involves exploiting the unique trading characteristics of ETFs

Particularly their endof day trading patterns these tactics have profound implications not just for traditional markets but for the burgeoning world of cryptocurrencies in light of the sec’s groundbreaking approval of Bitcoin ETFs were’re at a pivotal moment this decision a long awaited Milestone is set to redefine the relationship between

Digital and traditional Finance don’t forget to subscribe and like for the latest insights in the crypto World Black Rock thought they were going to start around 80 80 and black Rock’s first Salvo into the war was 30 so somebody thought better of it and they got all the way

Down to 30 and then there were multiple revisions over the last couple days and black rock got I think down to 25 I think um 25 bitwise is 20 and I think that’s number one then someone else is 20 one or 22 and then I thought

Black Rock was 25 but anyway they they won the race to have the lowest fee because at the end of the day what financial advisors want is the lowest fee ETF second place on the the chart here we’ve got fbtc so that is the Fidelity ETF not not a huge

Not a huge uh surprise there but we got ibit in third with and and by the way the numbers here on on the actual flows are so for for bitwise bitb 237.000 million FB uh Fidelity was right behind with 227 million and then ibit is

111 so sort of just and then it really and then it Trails off after there Arc BT Arc B is 65 again there’s there’s a reason it played out like this I mean there’s an absolute reason it played out like this work who did the work so Black

Rock okay they announced in June they were coming in and Larry went on TV a couple times but they didn’t go out and educate financial advisers they didn’t go out and sit with individual financial advisors in Topeka Kansas or you know Seattle Washington and tell them this is

What you do this is how you do it hun said this yesterday he said they did 20,000 meetings last year 20,000 meetings with financial advisers to get them and again they have bitw and others but 20,000 meetings educating and so it’s not sh because look that number for ibit is going to go

To the moon it’s going to be the biggest one it’s going to be monstrous because the Sovereign weals and all the other people that are part of the the network are are going to support you know King Larry at all so yeah it’s not going to surprise me that that ibit becomes the

Biggest like I Shares are the biggest in in everything fine fine Fidelity isn’t surprising in the sense that Fidelity because of of Abby and and their their great team they have an amazing digital team um led by Tom I mean they’re they’re they’re awesome they also educated their clientele and those

Clients both bit wises and Fidel’s clients were ready on day one everybody else is hoping that the people who had their heads in the sand and the ubs’s and the maril lynches and and the Raymond James and all these other people said no no no crypto finally say yep and

We got a little taste last night sadly where Vanguard and Bank of America Mar Lynch said nope nope we’re we’re solid with with M Warren and we’re we’re not going to allow this this speculative asset that will change I’ll give it one week one week Vanguard changes their

Tune when they say start seeing the amount of people who set sale uh that was my little hashtag last night you know just just set sale just leave so um that bitwise number is going to grow because they did the work they planned the seeds and fidelli how many people

Are going to transfer from Vanguard to fideli today thousand 5,000 10,000 it’s gonna be a big number big that’s G be a big number earlier we touched on the sophisticated Strategies employed in the ETF and crypto markets let’s dive deeper into black Rock’s strategic pivot in the

ETF space a move that’s reshaping the industry black Rock’s Journey from a high fee approach to competing for the lowest fee ETFs mirrors the intense competition in this space this race to the bottom is intensified by the sec’s recent approval of Bitcoin ETFs these developments aren’t just about fees

They’re about how Financial Giants are adapting to and shaping the digital asset landscape with these shifts we witnessing a significant realignment in financial markets the integration of digital assets into mainstream Finance is not a mere Trend but a transformative movement I got a a tweet and I love

Twitter I mean I love Twitter the people I meet with real expertise like on the front lines they might have seven followers but they’re really interesting people and it’s just so cool but this guy tweets at me last night that actually he wasn’t even tweeting at me I

Just came into my feed and he said I can confirm that these brokerage firms don’t get it right I’m at this firm they have a trillion dollars of assets and they will not let me buy this for my clients even though my clients are asking so in

Some places they’ll let you sign a waiver to just they’ll make you sign a waiver for triple lever inverse but you gotta sign a waiver for this because I can’t do it and and I just sent him back some stuff saying look you know thanks for your Vision he’s this young guy he’s

Got he and his wife in this great picture on his his pfp I said just thank you for your commitment your vision patience is a virtue and and this two shall pass and and it’ll all work out he’s like yeah I hear you but I don’t

Know maybe it’s time to go find a new home and I I just I think people don’t understand how I don’t know how important these decisions really are and oh I but my point there was that he said in this tweet three they told him it was

G to be three months that they had to wait three months to see if the liquidity was adequate and I’m like okay that is a relic literally that is a relic of 1015 years ago when most of the money was in mutual funds and you really need

To see if enough money was going to come in the mutual fund to make it efficacious because the fees were high today we know in real time that there was plenty of liquidity in these products like it set records if you put them all together okay and I do find it

Awesome that the crypto ETF ETP beat the number one previously which was an ESG EFT I love that the sec’s approval of Bitcoin ETFs marks a new era in finance blending the New Frontier of digital assets with traditional investment vehicles it’s not just about market growth it’s about the groundwork of

Education and engagement companies like Black Rock and Fidelity are leading the charge but this is just the beginning the future of Finance is a tapestry of digital and traditional threads ever evolving and Rich with opportunity thank you for joining us on unscripted crypto today’s episode underscores the importance of staying informed in a

Rapidly evolving Financial World subscribe and like for more insightful content and join us next time as we continue to explore the Uncharted territories of Finance until then stay curious stay informed and stay unscripted