After more than a decade-long wait, it’s looking likely that the first-ever spot Bitcoin ETFs will soon arrive in the US. But despite the heated race just to get off the start line, SEC approval is actually just when the story begins. Who among the dozen issuers who have filed so far will even make it off the blocks? How will the ETFs differentiate themselves? Who exactly are the prospective investors?

On this episod, Eric and Joel speak with ARK founder Cathie Wood and 21 Shares’ co-founder Ophelia Snyder about their spot Bitcoin ETF, their plethora of crypto futures ETFs, bitcoin price predictions, institutional adoption and ARK’s third act as an ETF issuer. 

After more than a decade-long wait, it’s looking likely that the first-ever spot Bitcoin ETFs will soon arrive in the US. But despite the heated race just to get off the start line, SEC approval is actually just when the story begins. Who among the dozen issuers who have filed so far will even make it off the blocks? How will the ETFs differentiate themselves? Who exactly are the prospective investors?
On this episod, Eric and Joel speak with ARK founder Cathie Wood and 21 Shares’ co-founder Ophelia Snyder about their spot Bitcoin ETF, their plethora of crypto futures ETFs, bitcoin price predictions, institutional adoption and ARK’s third act as an ETF issuer.

Money goes where it’s treated best. That simple truth is a big reason why more and more money (trillions, in fact) flows into a powerful, low-cost tool that’s quietly transformed investing. Exchange-traded funds let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and hopefully delight you in the process.

Money goes where it&rsquo;s treated best. That simple truth is a big reason why more and more money (trillions, in fact) flows into a powerful, low-cost tool that&rsquo;s quietly transformed investing. Exchange-traded funds let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them&mdash;and hopefully delight you in the process.

Joel Weber and Eric Balchunas demystify the world of exchange-traded funds, or ETFs.

Trillions

Spot Bitcoin ETFs Are (Probably) Almost (Finally) Here

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8bf5ef7a-b7be-4274-8906-b0d00189fed7/transcript

Today, Vanguard is synonymous with low-cost index investing. But as the firm marks 50 years since the launch of the first index fund, something surprising has happened: After decades of relentless gains, Vanguard’s share of the fund industry has plateaued. For most companies, that would be bad news. Yet Jack Bogle might have seen it differently. More than 30 years ago, Vanguard’s founder said he’d know his mission was succeeding when competitors became so cheap that Vanguard itself began losing market share.

On this episode of Trillions, Eric Balchunas and Joel Weber — joined by Bloomberg News cross-asset reporter Isabelle Lee — revisit Bogle’s legacy. They trace the unlikely rise of the index fund, why it took decades to catch on and how Vanguard’s low-cost model eventually forced the rest of Wall Street to change. They also explore what Vanguard’s plateau means now that the Bogle Effect has become so much bigger than Vanguard itself. 

Today, Vanguard is synonymous with low-cost index investing. But as the firm marks 50 years since the launch of the first index fund, something surprising has happened: After decades of relentless gains, Vanguard&rsquo;s share of the fund industry has plateaued. For most companies, that would be bad news. Yet Jack Bogle might have seen it differently. More than 30 years ago, Vanguard&rsquo;s founder said he&rsquo;d know his mission was succeeding when competitors became so cheap that Vanguard itself began losing market share. On this episode of Trillions, Eric Balchunas and Joel Weber &mdash; joined by Bloomberg News cross-asset reporter Isabelle Lee &mdash; revisit Bogle&rsquo;s legacy. They trace the unlikely rise of the index fund, why it took decades to catch on and how Vanguard&rsquo;s low-cost model eventually forced the rest of Wall Street to change. They also explore what Vanguard&rsquo;s plateau means now that the Bogle Effect has become so much bigger than Vanguard itself.&nbsp;

Vanguard’s Plateau Is Exactly What Jack Bogle Wanted

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c102bbbe-5ecf-44a7-9fa6-b4c001446fe9/transcript

Oil has been one of the wildest trades of the year, surging and retreating as US tensions with Iran — and US President Donald Trump's endless hopes for a deal — have repeatedly whipsawed markets. For traders, the go-to exchange-traded fund for playing those moves has long been the United States Oil Fund (USO). But another, lesser-known fund has been gaining momentum. The USCF Energy Commodity Strategy Absolute Return Fund (USE) can go long or short across a range of energy commodities, offering investors a more dynamic way to play the oil market.

On this episode of Trillions, Eric Balchunas and Joel Weber are joined by Bloomberg Intelligence's Andre Yapp to explain why USE is the ETF of the moment. They explore how its active strategy differs from USO, what “absolute return” actually means, and why trading oil through futures comes with risks most investors rarely encounter. They also dig into one potentially attractive feature of USE: Unlike USO, it won't leave investors dealing with the dreaded K-1 tax form.

Oil has been one of the wildest trades of the year, surging and retreating as US tensions with Iran &mdash; and US President Donald Trump's endless hopes for a deal &mdash; have repeatedly whipsawed markets. For traders, the go-to exchange-traded fund for playing those moves has long been the United States Oil Fund (USO). But another, lesser-known fund has been gaining momentum. The USCF Energy Commodity Strategy Absolute Return Fund (USE) can go long or short across a range of energy commodities, offering investors a more dynamic way to play the oil market. On this episode of Trillions, Eric Balchunas and Joel Weber are joined by Bloomberg Intelligence's Andre Yapp to explain why USE is the ETF of the moment. They explore how its active strategy differs from USO, what &ldquo;absolute return&rdquo; actually means, and why trading oil through futures comes with risks most investors rarely encounter. They also dig into one potentially attractive feature of USE: Unlike USO, it won't leave investors dealing with the dreaded K-1 tax form.

An ETF for a Wild Oil Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2d9f57e8-e6e8-4664-8d6a-b4b901489203/transcript

The ETF industry has packaged everything from stocks and bonds to Bitcoin and leveraged bets on individual companies. So why not your favorite sports team? New filings from Volatility Shares would create ETFs tied to the performance of each NHL franchise. And those filings are just the latest sign that the worlds of ETFs and sports betting may start to converge.

On this episode of Trillions, Joel Weber is joined by Bloomberg Intelligence ETF analyst Athanasios Psarofagis to examine the growing lineup of sports-themed ETF filings. They break down how the proposed NHL funds would work, review the filings for prediction market ETFs, discuss another filing for an actively managed fund that would essentially make sports bets on investors' behalf, and explore why ETFs face significant competition from existing sports offerings. None of these products has been approved by the Securities and Exchange Commission, but if history is any guide, it may be too early to bet against them.

The ETF industry has packaged everything from stocks and bonds to Bitcoin and leveraged bets on individual companies. So why not your favorite sports team? New filings from Volatility Shares would create ETFs tied to the performance of each NHL franchise. And those filings are just the latest sign that the worlds of ETFs and sports betting may start to converge.
On this episode of Trillions, Joel Weber is joined by Bloomberg Intelligence ETF analyst Athanasios Psarofagis to examine the growing lineup of sports-themed ETF filings. They break down how the proposed NHL funds would work, review the filings for prediction market ETFs, discuss another filing for an actively managed fund that would essentially make sports bets on investors' behalf, and explore why ETFs face significant competition from existing sports offerings. None of these products has been approved by the Securities and Exchange Commission, but if history is any guide, it may be too early to bet against them.

Can You Put Sports Into an ETF Yet?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/41b91397-29a3-40d2-b3a6-b4b20144b657/transcript

Spot Bitcoin ETFs Are (Probably) Almost (Finally) Here

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