“Bitcoin is at the top of its kind of recent range, and that’s a healthy place for it to be.” – 01:27
Andy Baehr, Head of Product & Research at Coindesk Indices, joins Remy Blaire at the New York Stock Exchange to discuss the latest developments in the cryptocurrency market following the September Fed meeting. Bitcoin is trading above $117,000, and the SEC has cleared the way for new spot crypto ETFs, allowing exchanges like the NYSE, NASDAQ, and CBOE to use generic listing standards. This significant change will shorten the timeline for launching new ETFs, making it easier for investors to access a broader range of crypto assets, including popular tokens like Solana and Dogecoin.
Andy notes that the market is responding positively, with Bitcoin maintaining a healthy position and low volatility. Ether has also shown strength, particularly in light of the SEC’s recent announcements.
The pair discuss the implications of the SEC’s approval for spot crypto ETFs, which will simplify the listing process and potentially lead to a surge in new products. Andy highlighted the upcoming grayscale fund that tracks the CoinDesk Five Index, which will be the largest multi-token ETF in the U.S. market, offering a more passive investment approach for advisors and their clients.
Andy also touched on the regulatory landscape in Washington, D.C. Andy emphasized the collaborative spirit between regulators and lawmakers, suggesting that the U.S. is open for business in the crypto space. This positive sentiment, combined with favorable macro conditions, could lead to exciting developments and growth in the industry.