Why Bloomberg’s Top ETF Analyst Is More Optimistic Than Ever on a U.S. Bitcoin ETF

For years the Bitcoin industry has been hoping the U.S. Securities and Exchange Commission would approve an ETF, which would theoretically allow an easy onramp for a lot more money to flow into the coin. So far though, applicants have been disappointed, despite approvals for similar products in other countries. But with institutional adoption on the rise, could 2021 finally be the year? Bloomberg Intelligence ETF Analyst Eric Balchunas says he’s more optimistic than he’s ever been. In this Q&A he explains why, and breaks down the landscape.

Joe Weisenthal:
So Eric. A Bitcoin ETF is something the community has hoped to see for a long time now. And nobody knows ETFs as well as you. It really feels like the entire industry has been monitoring your work for clues or signs about whether it’s coming. How has that focus been from your perspective?

Eric Balchunas:
It is one of those things that no one really knows, unless you are inside the SEC. But we have been pretty obsessed with this story since the Winklevoss Twins filed for the first one in 2013, so we have been trying to give our takes in real-time and track every little stage. And I will say it does feel like there’s been a shift this year. We are more optimistic of an approval than we’ve ever been.