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🎧 New Podcast! Bloomberg’s Eric Balchunas on the Index Fund That Changed Investing Eric reflects on the 50th anniversary of Vanguard’s first index fund and its transformative impact on investors and the asset management industry. Plus, VettaFi's Kirsten Chang spotlights several recent launches, including the State Street SPDR UC... show more

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Desmond Lim24 gün önce

@EricBalchunas @Vetta_Fi @kirstenchang16 Indexing won by making a sophisticated idea behaviorally simple: diversify, lower costs, keep contributing. What product innovation could improve outcomes at comparable scale without adding back the complexity Bogle removed?

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Eric Balchunas marks the 50th anniversary of the first index fund, the Vanguard 500 Index Fund. It launched on August 31st, 1976 and eventually led the way for passive investing

Eric Balchunas marks the 50th anniversary of the first index fund, the Vanguard 500 Index Fund. It launched on August 31st, 1976 and eventually led the way for passive investing

Bloomberg TV

51,915 görüntüleme • 1 ay önce

In this video from Ripple #Swell where Hunter Horsley (Hunter Horsley, CEO of Bitwise Asset Management), Tim McCourt (Tim McCourt, Senior Managing Director & Global Head of Equities, FX, and Alternative Products at CME Group), and Eric Balchunas (Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence) discuss the #XRP ETF filings and the broader impact on the digital asset space. #RippleSwell #ETFs #DigitalAssets

In this video from Ripple #Swell where Hunter Horsley (Hunter Horsley, CEO of Bitwise Asset Management), Tim McCourt (Tim McCourt, Senior Managing Director & Global Head of Equities, FX, and Alternative Products at CME Group), and Eric Balchunas (Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence) discuss the #XRP ETF filings and the broader impact on the digital asset space. #RippleSwell #ETFs #DigitalAssets

Max Avery

17,996 görüntüleme • 1 yıl önce

The First U.S. Spot Staked $TRX ETF is now live Canary Capital has launched the spot $TRX ETF ($TRSX), with staking rewards included in its net asset value. This innovative approach marks a new era for the ETF space by offering yield-bearing products beyond passive index funds. Bridging asset management and on-chain activity through staking rewards integration is key.

The First U.S. Spot Staked $TRX ETF is now live Canary Capital has launched the spot $TRX ETF ($TRSX), with staking rewards included in its net asset value. This innovative approach marks a new era for the ETF space by offering yield-bearing products beyond passive index funds. Bridging asset management and on-chain activity through staking rewards integration is key.

BSCN

37,710 görüntüleme • 25 gün önce

Vanguard founder Jack Bogle explains his nuanced view on index funds vs. ETFs: Jack Bogle, the man who created the index fund, clarifies that his concerns aren't with broad index investing itself. His issue is with how ETFs tempt investors to behave badly and how the industry has weaponized the ETF structure for gimmicks. He starts by noting just how dominant index funds have become: “The dominance of index funds, which accounts for 28% of the market, is partly due to ETFs representing more than half of that share." But here's where he draws the line: “I have nothing against broad ETFs per se, but rather the narrow, managed ones and the way people misuse the broad versions." On broad ETFs vs. traditional index funds: they're the same thing Bogle makes clear that structurally, there's no meaningful difference between a Vanguard S&P 500 ETF and what he calls a "TIFF" (Traditional Index Fund), a term he coined to distinguish them: "They both own exactly the same portfolio and are part of the same portfolio, meaning their returns will be identical. Both types cost around five or six basis points at the Admiral class level." He explains Vanguard's pricing: Below roughly $10,000 invested, you'll pay 10 to 12 basis points, but once you cross the Admiral threshold, "the funds are identical." So what's the real problem with ETFs? Behavior. The ability to trade intraday creates temptation: "My slight bias against ETFs stems from the temptation to trade in the middle of the day when trouble arises." He points out how pointless this reactive trading is: "Getting out in the middle of the day is often a reaction to market volatility, such as the market dropping 300 points and then recovering in the second half of the day. This 'bouncing around' is meaningless in the long run." What he actually endorses: Bogle is clear that broad market index funds, whether structured as ETFs or traditional funds, all serve investors well: "Broad market index funds, including the S&P 500, total bond market, total US stock market, international, and even emerging market funds, are all acceptable 'total market funds'." Where the industry lost the plot: His sharpest criticism is reserved for what the ETF industry has become: "The industry has become a marketing business focused on 'crazy' or 'stupid' ideas that no one else has thought of." He offers specific examples: An emerging cancer ETF" he once criticized in the Wall Street Journal, today's "cloud computing" ETFs, and leveraged products offering 100%, 200%, or even 300% exposure, letting investors bet on the market going up or down by three times. His verdict on these: "The sense behind these types of investments is beyond my comprehension."

Vanguard founder Jack Bogle explains his nuanced view on index funds vs. ETFs: Jack Bogle, the man who created the index fund, clarifies that his concerns aren't with broad index investing itself. His issue is with how ETFs tempt investors to behave badly and how the industry has weaponized the ETF structure for gimmicks. He starts by noting just how dominant index funds have become: “The dominance of index funds, which accounts for 28% of the market, is partly due to ETFs representing more than half of that share." But here's where he draws the line: “I have nothing against broad ETFs per se, but rather the narrow, managed ones and the way people misuse the broad versions." On broad ETFs vs. traditional index funds: they're the same thing Bogle makes clear that structurally, there's no meaningful difference between a Vanguard S&P 500 ETF and what he calls a "TIFF" (Traditional Index Fund), a term he coined to distinguish them: "They both own exactly the same portfolio and are part of the same portfolio, meaning their returns will be identical. Both types cost around five or six basis points at the Admiral class level." He explains Vanguard's pricing: Below roughly $10,000 invested, you'll pay 10 to 12 basis points, but once you cross the Admiral threshold, "the funds are identical." So what's the real problem with ETFs? Behavior. The ability to trade intraday creates temptation: "My slight bias against ETFs stems from the temptation to trade in the middle of the day when trouble arises." He points out how pointless this reactive trading is: "Getting out in the middle of the day is often a reaction to market volatility, such as the market dropping 300 points and then recovering in the second half of the day. This 'bouncing around' is meaningless in the long run." What he actually endorses: Bogle is clear that broad market index funds, whether structured as ETFs or traditional funds, all serve investors well: "Broad market index funds, including the S&P 500, total bond market, total US stock market, international, and even emerging market funds, are all acceptable 'total market funds'." Where the industry lost the plot: His sharpest criticism is reserved for what the ETF industry has become: "The industry has become a marketing business focused on 'crazy' or 'stupid' ideas that no one else has thought of." He offers specific examples: An emerging cancer ETF" he once criticized in the Wall Street Journal, today's "cloud computing" ETFs, and leveraged products offering 100%, 200%, or even 300% exposure, letting investors bet on the market going up or down by three times. His verdict on these: "The sense behind these types of investments is beyond my comprehension."

Black Edge

13,757 görüntüleme • 4 ay önce

Virtuals Protocol Just Unlocked Index Funds on Robinhood Chain Virtuals Protocol is enabling a new architecture that allows users to aggregate multiple assets into a single token. This means that anyone can combine several Robinhood-native assets, including $VIRTUAL, $CASHCAT, $ARROW, and $VEX, into a customizable, tokenized index. This deployment on the Robinhood Chain allows any participant to publish a composite asset and earn passive protocol fees as others mint the basket, thereby decentralizing the index provider role.

Virtuals Protocol Just Unlocked Index Funds on Robinhood Chain Virtuals Protocol is enabling a new architecture that allows users to aggregate multiple assets into a single token. This means that anyone can combine several Robinhood-native assets, including $VIRTUAL, $CASHCAT, $ARROW, and $VEX, into a customizable, tokenized index. This deployment on the Robinhood Chain allows any participant to publish a composite asset and earn passive protocol fees as others mint the basket, thereby decentralizing the index provider role.

BSCN

26,967 görüntüleme • 2 ay önce

🚀 Introducing SoSoValue — the #AI-powered platform making #crypto investing smarter, simpler, and accessible to everyone. Cut through the noise. Get real-time prices, on-chain data, #Bitcoin/#ETH #ETF insights, AI-curated news, and actionable market research — all in one place. ➡️ Plus their fully on-chain SSI (Spot Index) Protocol: Secure, transparent, low-cost passive crypto index investing that bridges CeFi efficiency with DeFi transparency. Trusted by millions. Built for the global masses. 🔗 Platform: 🔗 SSI Indexes: 📱 App: Available on App Store & Google Play Find true value.

🚀 Introducing SoSoValue — the #AI-powered platform making #crypto investing smarter, simpler, and accessible to everyone. Cut through the noise. Get real-time prices, on-chain data, #Bitcoin/#ETH #ETF insights, AI-curated news, and actionable market research — all in one place. ➡️ Plus their fully on-chain SSI (Spot Index) Protocol: Secure, transparent, low-cost passive crypto index investing that bridges CeFi efficiency with DeFi transparency. Trusted by millions. Built for the global masses. 🔗 Platform: 🔗 SSI Indexes: 📱 App: Available on App Store & Google Play Find true value.

Crypto Holding™ 💎

191,233 görüntüleme • 2 ay önce

Injective co-founder Ericchen.inj went on CNBC to discuss how Injective is enabling the world of traditional finance to move on-chain with its groundbreaking infrastructure and new financial primitives. Injective's recent launches, such as its TradFi Stock index, combine hundreds of publicly traded indices into one on-chain product that everyday users and institutions alike can access with zero limits. Eric points out the growing force of the hybrid TradFi and DeFi layer by stating, "Looking back, this will be the first fundamental seismic shift towards a strong convergence between the DeFi and TradFi realms."

Injective co-founder Ericchen.inj went on CNBC to discuss how Injective is enabling the world of traditional finance to move on-chain with its groundbreaking infrastructure and new financial primitives. Injective's recent launches, such as its TradFi Stock index, combine hundreds of publicly traded indices into one on-chain product that everyday users and institutions alike can access with zero limits. Eric points out the growing force of the hybrid TradFi and DeFi layer by stating, "Looking back, this will be the first fundamental seismic shift towards a strong convergence between the DeFi and TradFi realms."

Injective 🥷

247,227 görüntüleme • 1 yıl önce

Canada’s ETF market is efficient — but efficiency isn’t the same as conviction. Through a new partnership between LongPoint Asset Management Inc. and Humilis Investment Strategies, Canadian investors are gaining access to something the ETF landscape has long lacked: personally-branded, research-driven, high-conviction portfolio management — delivered in a modern ETF structure. Founded by veteran strategist Brian Belski, Humilis brings a disciplined, concentrated equity approach built on conviction, humility, and long-term earnings analysis. LongPoint’s ETF Partnership Platform removes the operational and regulatory friction, allowing portfolio managers to focus purely on what they do best: investing. The result? Greater access to specialized, active strategies that historically never made it into Canadian-listed ETFs — until now. Learn more: LongPointETFs

Canada’s ETF market is efficient — but efficiency isn’t the same as conviction. Through a new partnership between LongPoint Asset Management Inc. and Humilis Investment Strategies, Canadian investors are gaining access to something the ETF landscape has long lacked: personally-branded, research-driven, high-conviction portfolio management — delivered in a modern ETF structure. Founded by veteran strategist Brian Belski, Humilis brings a disciplined, concentrated equity approach built on conviction, humility, and long-term earnings analysis. LongPoint’s ETF Partnership Platform removes the operational and regulatory friction, allowing portfolio managers to focus purely on what they do best: investing. The result? Greater access to specialized, active strategies that historically never made it into Canadian-listed ETFs — until now. Learn more: LongPointETFs

BTV & CEO Clips

225,198 görüntüleme • 8 ay önce

Do you dream of building your own on-chain financial services business? Leveraging the power of AI and with the right platform, you can build a business empire all by yourself. Now, here is your chance to build on the SoSoValue platform. Prize Pool: 10,000 USD SoSoValue is a holistic on-chain finance platform, covering the full financial services spectrum including information and research, index creation and investment, and active trading. The core applications are powered by ValueChain, its proprietary Layer-1 chain, which is performant, transparent, EVM compatible and agent-friendly. Aspire to build a one-person financial news agency, investment bank, index fund manager or active fund manager? Start brainstorming and get your agentic skills ready. SoSoValue has lined up the data, feeds, index tools and trading APIs. Here is your chance to turn your brilliant business idea into reality. More details coming in April. Stay tuned. #SoSoValue #Buildathon #AI #Agentic #OnePerson #Web3 #Crypto #Builder #BuildInPublic

Do you dream of building your own on-chain financial services business? Leveraging the power of AI and with the right platform, you can build a business empire all by yourself. Now, here is your chance to build on the SoSoValue platform. Prize Pool: 10,000 USD SoSoValue is a holistic on-chain finance platform, covering the full financial services spectrum including information and research, index creation and investment, and active trading. The core applications are powered by ValueChain, its proprietary Layer-1 chain, which is performant, transparent, EVM compatible and agent-friendly. Aspire to build a one-person financial news agency, investment bank, index fund manager or active fund manager? Start brainstorming and get your agentic skills ready. SoSoValue has lined up the data, feeds, index tools and trading APIs. Here is your chance to turn your brilliant business idea into reality. More details coming in April. Stay tuned. #SoSoValue #Buildathon #AI #Agentic #OnePerson #Web3 #Crypto #Builder #BuildInPublic

SoSoValue

113,102 görüntüleme • 5 ay önce

Join us as we celebrate the 50th Anniversary of Howard University Men’s soccer team’s historic NCAA Championship win, the first by an HBCU! Legendary coach, Lincoln Phillips reflects on that iconic moment and its lasting impact on Black history ⚽️

Join us as we celebrate the 50th Anniversary of Howard University Men’s soccer team’s historic NCAA Championship win, the first by an HBCU! Legendary coach, Lincoln Phillips reflects on that iconic moment and its lasting impact on Black history ⚽️

Washington Spirit

13,174 görüntüleme • 2 yıl önce

A tax-loss harvesting product can charge 2.95% and underperform by roughly 2.95%. That is not tax alpha. That is fee alpha for the manager. Shang Chou, a top J.P. Morgan banker, saw a strategy with "a basket of 11 ETF holdings" that charged "as much as 2.95 % on the management fee." Its track record had "underperformed by roughly 2.95 % to the index." If the pitch starts with taxes instead of economic substance, I get nervous.

A tax-loss harvesting product can charge 2.95% and underperform by roughly 2.95%. That is not tax alpha. That is fee alpha for the manager. Shang Chou, a top J.P. Morgan banker, saw a strategy with "a basket of 11 ETF holdings" that charged "as much as 2.95 % on the management fee." Its track record had "underperformed by roughly 2.95 % to the index." If the pitch starts with taxes instead of economic substance, I get nervous.

David Weisburd 🚀

20,629 görüntüleme • 3 ay önce

Tomorrow a company that holds close to 5% of all ethereum is set to join the russell 1000. Once done, index funds that have never had an opinion on crypto will be forced to buy it. Nobody in those funds chose this, a benchmark rule did it for them 👇 ◢ How index inclusion actually works Getting added to a major index is one of the strongest demand events in markets, and it has nothing to do with whether the company is good. Funds that track the russell 1000 have to hold what the russell 1000 holds, or they stop tracking it. So, when a stock joins, every passive fund benchmarked to that index becomes a forced buyer, at whatever the price is, on the schedule the index sets. Passive vehicles tend to hold something like 20 to 25% of a large-cap stock, which for this one points to roughly $2B of buying that arrives because a rule says it must. ◢ The part that makes it crypto Bitmine is not a normal company that happens to get indexed, it's an ethereum treasury, sitting on millions of $ETH as its core balance sheet. So the chain runs like this: the index adds the stock, passive funds are forced to buy the stock, and the stock is essentially a wrapper around a giant pile of ETH. The result is that ordinary equity index money ends up with ethereum exposure without a single person deciding they wanted it. No ETF approval, allocation vote or opinion required. ◢ A side door, not a front door Everyone in crypto watches the spot ETF as the official entrance for institutional money, the thing that needs sign-off and gets headlines. Index inclusion is the entrance nobody guards. strategy walked a bitcoin treasury into the nasdaq 100. Coinbase took a crypto exchange into the s&p 500. now an ethereum treasury is stepping into the russell 1000. Each time, the underlying business didn't change. what changed is who was suddenly required to own it. ◢ Why front-running it is harder than it looks The mechanism is concrete, but the easy trade around it usually isn't. The inclusion isn't final until the reconstitution actually closes, so the flow is conditional, not guaranteed. The stock is already down around 50% on the year, which is a reminder that a one-time wave of buying doesn't repair something tied to ETH's price and to confidence in the treasury model. And there's a quieter problem: "diversified" index funds are now obligated to hold a leveraged, single-asset crypto bet that most of their investors would never have picked on purpose. What it means that the biggest new buyer of a crypto-linked company is a rule, not a person, and that millions of people now hold a slice of ethereum because an index told their fund to?

Tomorrow a company that holds close to 5% of all ethereum is set to join the russell 1000. Once done, index funds that have never had an opinion on crypto will be forced to buy it. Nobody in those funds chose this, a benchmark rule did it for them 👇 ◢ How index inclusion actually works Getting added to a major index is one of the strongest demand events in markets, and it has nothing to do with whether the company is good. Funds that track the russell 1000 have to hold what the russell 1000 holds, or they stop tracking it. So, when a stock joins, every passive fund benchmarked to that index becomes a forced buyer, at whatever the price is, on the schedule the index sets. Passive vehicles tend to hold something like 20 to 25% of a large-cap stock, which for this one points to roughly $2B of buying that arrives because a rule says it must. ◢ The part that makes it crypto Bitmine is not a normal company that happens to get indexed, it's an ethereum treasury, sitting on millions of $ETH as its core balance sheet. So the chain runs like this: the index adds the stock, passive funds are forced to buy the stock, and the stock is essentially a wrapper around a giant pile of ETH. The result is that ordinary equity index money ends up with ethereum exposure without a single person deciding they wanted it. No ETF approval, allocation vote or opinion required. ◢ A side door, not a front door Everyone in crypto watches the spot ETF as the official entrance for institutional money, the thing that needs sign-off and gets headlines. Index inclusion is the entrance nobody guards. strategy walked a bitcoin treasury into the nasdaq 100. Coinbase took a crypto exchange into the s&p 500. now an ethereum treasury is stepping into the russell 1000. Each time, the underlying business didn't change. what changed is who was suddenly required to own it. ◢ Why front-running it is harder than it looks The mechanism is concrete, but the easy trade around it usually isn't. The inclusion isn't final until the reconstitution actually closes, so the flow is conditional, not guaranteed. The stock is already down around 50% on the year, which is a reminder that a one-time wave of buying doesn't repair something tied to ETH's price and to confidence in the treasury model. And there's a quieter problem: "diversified" index funds are now obligated to hold a leveraged, single-asset crypto bet that most of their investors would never have picked on purpose. What it means that the biggest new buyer of a crypto-linked company is a rule, not a person, and that millions of people now hold a slice of ethereum because an index told their fund to?

Onur 🍌🦍

14,337 görüntüleme • 3 ay önce

🚨 Scenius Studio (Episode #33) 🧠🎙️ In this episode, I sit down with Jeff Park (Jeff Park), Head of Alpha Strategies at . Jeff has had an illustrious career with a variety of roles at Morgan Stanley, Harvard Management Company, and Corbin Capital Partners before focusing his career on crypto and multi-manager solutions at Bitwise. Jeff’s insight into the forthcoming Bitcoin Spot ETF is timely and informative. Moreover, his measured approach when evaluating actively traded strategies demonstrates his mastery of various methods of alpha generation. Tune in for insights into active and passive digital asset investment strategies. In this episode we discuss: ➔ Determining the digital assets that get included in Bitwise’s passive index products ➔ The underlying process and mechanics for Bitwise’s BTC spot ETF application ➔ New financial capabilities unlocked by the BTC spot ETF wrapper ➔ The benefits of the BTC spot ETF for RIAs and Financial Advisors ➔ How Jeff would pitch someone on the benefits of adding Bitcoin to a typical 60/40 portfolio ➔ Operational due diligence and the evolution of investment management infrastructure for crypto funds ➔ Investment “edge” and the core criteria that Jeff looks for when evaluating a manager ➔ Bitwise’s recent survey of RIAs regarding the upcoming ETF and whether the news is already priced in ➔ Jeff’s spiciest takes 🌶️ Links to listen below👇

🚨 Scenius Studio (Episode #33) 🧠🎙️ In this episode, I sit down with Jeff Park (Jeff Park), Head of Alpha Strategies at . Jeff has had an illustrious career with a variety of roles at Morgan Stanley, Harvard Management Company, and Corbin Capital Partners before focusing his career on crypto and multi-manager solutions at Bitwise. Jeff’s insight into the forthcoming Bitcoin Spot ETF is timely and informative. Moreover, his measured approach when evaluating actively traded strategies demonstrates his mastery of various methods of alpha generation. Tune in for insights into active and passive digital asset investment strategies. In this episode we discuss: ➔ Determining the digital assets that get included in Bitwise’s passive index products ➔ The underlying process and mechanics for Bitwise’s BTC spot ETF application ➔ New financial capabilities unlocked by the BTC spot ETF wrapper ➔ The benefits of the BTC spot ETF for RIAs and Financial Advisors ➔ How Jeff would pitch someone on the benefits of adding Bitcoin to a typical 60/40 portfolio ➔ Operational due diligence and the evolution of investment management infrastructure for crypto funds ➔ Investment “edge” and the core criteria that Jeff looks for when evaluating a manager ➔ Bitwise’s recent survey of RIAs regarding the upcoming ETF and whether the news is already priced in ➔ Jeff’s spiciest takes 🌶️ Links to listen below👇

Ben Jacobs

10,072 görüntüleme • 2 yıl önce

Arnold Ventures Co-Chair John Arnold on the “lotterization” of investing: “There’s this whole conflation between investing and trading and gambling.” “You open up the Robinhood app today and it’s: do you want to day trade? Do you want to buy zero-day options? Do you want to gamble on the sports game tonight? Or do you want to buy the index fund?” “And it’s kind of all presented as, ‘This is all investing.’” “I think that’s a really scary message that we’re teaching the 16-, 18-, 20-year-olds today.”

Arnold Ventures Co-Chair John Arnold on the “lotterization” of investing: “There’s this whole conflation between investing and trading and gambling.” “You open up the Robinhood app today and it’s: do you want to day trade? Do you want to buy zero-day options? Do you want to gamble on the sports game tonight? Or do you want to buy the index fund?” “And it’s kind of all presented as, ‘This is all investing.’” “I think that’s a really scary message that we’re teaching the 16-, 18-, 20-year-olds today.”

TBPN

35,806 görüntüleme • 8 gün önce

"T. Rowe Price spent 89 years being the responsible one and they just got the green light to put XRP and Dogecoin into your retirement portfolio" "T. Rowe Price is the most responsible pension manager on the planet. They got approval for TKNZ, their active crypto ETF. They can choose up to 15 assets and actively index them, and that goes as far down the risk curve as Shiba Inu and Dogecoin" "Grandpa's pension is about to be exposed to a coin named after a dog from a 2013 meme. It's astounding those things are now being included in an ETF product from T. Rowe Price" "This is a meaningful story because it's a new distribution channel for advisors and retirement money reaching crypto through a very trusted brand. The way people generally invest is through indexing. When you get an index fund of the top five to 15 assets from someone like T. Rowe Price, every other entity is going to follow"

The Wolf Of All Streets

19,666 görüntüleme • 3 ay önce

A 15-YEAR-OLD HIGH SCHOOL STUDENT FOUND A WAY TO SPOT NEW COMPANIES BEFORE MAJOR INVESTORS DID The interviewer walked into the house as Eric finished a business call and asked the person to call back in 30 minutes. Eric was 15. During lockdown, Eric Zhu joined Discord servers where high school students discussed startups and venture deals. He was the only middle school student in those chats. Eric joined a young company as one of its first employees. He then launched his own startup, sold it, and began building Aviato. Investors searched databases for new companies. A startup usually appeared only after its first funding rounds and visible growth. By then, dozens of other funds had seen it. Eric started hunting for signals that appeared before a company entered a database. The Aviato team gathered early signals about new projects and organized them into a search engine for investors. A fund could discover a company before its name started showing up in every venture database. Eric used the same approach as cofounder of his own fund. His team invested at an early stage and took equity. If a larger company acquired the startup or it went public, the fund made money on its stake. At 15, Eric was the cofounder of a fund with roughly $20 million. He also raised more than $1 million for Aviato. To stay near his customers, Eric moved to San Francisco and rented a house with office space for $8,000 a month. He hated the city. The funds had millions for deals. Eric sold them something scarcer: time before everyone else found the same company.

A 15-YEAR-OLD HIGH SCHOOL STUDENT FOUND A WAY TO SPOT NEW COMPANIES BEFORE MAJOR INVESTORS DID The interviewer walked into the house as Eric finished a business call and asked the person to call back in 30 minutes. Eric was 15. During lockdown, Eric Zhu joined Discord servers where high school students discussed startups and venture deals. He was the only middle school student in those chats. Eric joined a young company as one of its first employees. He then launched his own startup, sold it, and began building Aviato. Investors searched databases for new companies. A startup usually appeared only after its first funding rounds and visible growth. By then, dozens of other funds had seen it. Eric started hunting for signals that appeared before a company entered a database. The Aviato team gathered early signals about new projects and organized them into a search engine for investors. A fund could discover a company before its name started showing up in every venture database. Eric used the same approach as cofounder of his own fund. His team invested at an early stage and took equity. If a larger company acquired the startup or it went public, the fund made money on its stake. At 15, Eric was the cofounder of a fund with roughly $20 million. He also raised more than $1 million for Aviato. To stay near his customers, Eric moved to San Francisco and rented a house with office space for $8,000 a month. He hated the city. The funds had millions for deals. Eric sold them something scarcer: time before everyone else found the same company.

Blaze

14,265 görüntüleme • 1 ay önce

How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years In this episode, Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, discussed the performance of #Bitcoin ETFs since their launch two months ago. Balchunas noted that the ETFs’ performance exceeded his expectations, with a faster and more intense “second wind” than anticipated. He attributed this to a combination of asset managers buying in, retail interest, and the “ETF effect” where the knowledge of incoming flows encourages non-ETF investors to buy. Balchunas also predicted that BlackRock’s Bitcoin ETF would likely be the most successful of the nine new spot Bitcoin ETFs, while also doubting that any of the smaller issuers would bow out. He also discussed the potential for spot Ether ETFs, but was less optimistic about their success compared to Bitcoin ETFs. Timestamps: 00:00 Introduction 01:35 Bitcoin ETF performance in the first weeks 10:38 Bitcoin's rally to all-time highs 15:15 BlackRock: the winner? 18:14 When options will be approved 19:01 In-kind redemptions 19:55 Outflows from GBTC 22:36 Ether ETFs won't have as much demand? 27:01 Approval of ETH ETFs 36:36 Short-term projection for bitcoin 38:23 Long-term inflows in the ETFs 44:23 Weekly recap

How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years In this episode, Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, discussed the performance of #Bitcoin ETFs since their launch two months ago. Balchunas noted that the ETFs’ performance exceeded his expectations, with a faster and more intense “second wind” than anticipated. He attributed this to a combination of asset managers buying in, retail interest, and the “ETF effect” where the knowledge of incoming flows encourages non-ETF investors to buy. Balchunas also predicted that BlackRock’s Bitcoin ETF would likely be the most successful of the nine new spot Bitcoin ETFs, while also doubting that any of the smaller issuers would bow out. He also discussed the potential for spot Ether ETFs, but was less optimistic about their success compared to Bitcoin ETFs. Timestamps: 00:00 Introduction 01:35 Bitcoin ETF performance in the first weeks 10:38 Bitcoin's rally to all-time highs 15:15 BlackRock: the winner? 18:14 When options will be approved 19:01 In-kind redemptions 19:55 Outflows from GBTC 22:36 Ether ETFs won't have as much demand? 27:01 Approval of ETH ETFs 36:36 Short-term projection for bitcoin 38:23 Long-term inflows in the ETFs 44:23 Weekly recap

Laura Shin

49,589 görüntüleme • 2 yıl önce