YouSaid · the spoken record

Matt Hougan

lines on the record: 89
first: 2019-02-01
most recent: 2019-02-01
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“That I get. Okay, great question. I learned every hard knock investing lesson there is to learn. And so I could tell you not to do those things, like don't confuse your lucky pick of a stock that went up with true skill. Don't sell when you feel the painful feeling in your gut. Just buy and hold and never sell. But you wouldn't listen. So I guess it would be just buy things selling things is where everything goes asunder. Just buy things and hold them and sit on it forever.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so either I would advise them, as I do most young people, to take some time off and go travel and play around while they're young before they get serious about their career. If they didn't take that advice, which I think is good advice, I would encourage them to think most about their company, the company they choose, and their direct manager and think the least about their intro salary or their title or even what work.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“To be red meat at the table, right? Unless it's going to be really exceptional or different, you have to experience the world.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Noticeably different bird personnel. Oh, 100%. You have the nice guys, you have the sort of mean guys. They do different things. They all look different because they're different breeds. They have a half-life when you pick them up of about 90 seconds. If you hold them for more than 90 seconds, they start to poop everywhere. And so you can pick them up and they're very cute, but the clock starts ticking and you got to put them down before disaster happens.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's $1.89. Well, I should have learned. Now they're two and a half months old. Now we've invested money in a chicken coop. The first egg that we get, which will be in like a month and a half, is going to cost me about $2,000. That's a good egg. It better be a good egg. It better be a good egg. The chickens are great. The chickens are great.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“So adorable. And so we brought home. I was convinced to bring home four chicks. They cost $3.75 each if you want to know what chicks cost.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Chickens, yeah, yeah, so we went to the feed store with the kids to get some hay because we thought it'd be cute to have hay bales for a party for people to sit on. And in the feed store were two-day old chicks. My kids are very missing. Sit in”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I'm a runner. I love to run. I love to hike. But I have three kids, a wife who works. I work at a startup. I sit on boards. I have four chickens. Mostly I just try to keep all this plate spinning. But when I do get away, I like to run or hike or be outside.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“I understand this? Can I talk about this? Will this help me win new clients? And so the ability to reframe what you think is important and to what's actually important was an important lesson.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And the Does the Drug Work question for Titan was true. It seemed to work. But that is not what the FDA cares about. The FDA is a bunch of doctors. The Hippocratic Oath says, first do no harm. They care only about safety. It might work, but it's safe. They'll approve it. This one, there were risks, but there were also benefits, and they just shot it down. And it taught me that you have to frame things not from what you think is important, but from the people who are in control of that think is important. And in biotech, that's safety. Efficacy is a distant second. And that's true. Like when I built the ETF conference, when you build an ETF conference, you want to focus on what's going to go up the most the next year. Where should people invest? What financial advisors want to learn? Is how can I retain and grow up clients? They want to know, I want to make sure I don't get fired and whether I can build a better portfolio is actually secondary to...”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“More money than God. And no, one of the things I learned from my mentor, Dave Nodig, was all you have to do is own up to what went wrong and design a process so it doesn't happen again. And I did that and then just went on about my day. And I've used that with every subsequent failure in business. And it immediately clears the air and gets you on a better path. The other thing I learned, which was unique to investing in biotech, but has application, was I had focused entirely on the wrong thing. So the sexy thing in biotech, the thing everyone talks about is does the drug work?”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“This is 2000 was when I think I made this purchase. Okay. Biotech is obviously a binary outcome at the FDA, and it went against me. And I lost a huge amount of money for the company. And I learned two really important things from that. When it happened, I thought I was going to get fired because I was new to the job and I just lost like $2 million for the fund, which to me at the time, having been a more”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's very funny. Yeah. So when I was a biotech portfolio manager at Open Fund, I bought a company called Titan Pharmaceuticals, which had a drug in front of the FDA.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so I bought it because I thought I'm a biotech portfolio manager. I need this nice new car. I could have done so many better things with that money than buy this terrible car with a poor historical track record of reliability, which I knew when I bought it, but I liked the way it looked and the people I was around owned Volkswagen Jettas and I bought it and it was just a yoke on my neck until I finally sold it.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“$5. So, for two reasons one, it was utterly destructible. It constantly broke down. And two, it was an aspirational purchase, right? It was a poor man's. I said a poor man's. I said a poor man's BMW. You improved on that with a poor man's.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“My first car was a terrible, as I said earlier, a terrible choice. I bought a Volkswagen Jeddah shortly after I got my first job, and that was the disaster in like nine different ways.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think about 50% of the homes in there are terrible, but the other 50 are seen with such clarity and with the kind of emotional connections that really resonate with me, that it's an important book to me and I read it regularly.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“It was 20 At the time, there was a lot of advertising to get people to move out there, and people were deliberately casting it as the Mediterranean of the Americas. And so they built it in its physical presence to look like that. And what that reminded me of was something that I had forgotten, which is the importance of narrative in the ability to shape reality and how being able to define and see what it could be actually can lead to physical developments that become entrenched and just become important for society. And I thought that was an interesting.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's named California. And I'll tell one little anecdote from it that empowered me. If you go to California, it looks like sort of the, especially Southern California, it looks like the Mediterranean. All the houses are in these Mediterranean styles. And I assume this was organic. But in fact, it wasn't. It all started in Santa Barbara. When Santa Barbara burned to the ground. And at the time, you...”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And my kids are learning all about California history the same way I learned about Virginia history when I was a kid at the time I thought that was just history but it turns out you learn different things depending where you grew up”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“I knew you would ask about books, so I was thinking about the most important books I've read. The most important book to my life probably was a heartbreaking work of staggering genius by Dave Eggers, who both writes with unique clarity and also came at a time when I needed to rediscover my agency and ability to shape my life in the way that I wanted. And that was a very important book for me. After that, it's a weird amalgam of a handful of poetry books and then whatever I've been reading most recently. So the book I've been reading most recently is a history of California. I'm a transplant to California. I moved there 10 years ago.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, Jack Bogle is the only investor who really matters to me. Maybe my grandfather a little bit. But I'm one of the, so I work in crypto. I'm one of the most boring investors in the world. I don't think I have traded my portfolio other to rebalance in eight or nine years. And sort of the overwhelming math that Bogo presented, right? I started my career on the active side as an active biotech analyst and then an active biotech portfolio manager. I learned the hard way that active doesn't work. And so pivoting into indexing and learning from Bogle set the stage for my ETF career and set the stage even for my cryptocurrencer, although that probably makes Jack Bogle want to throw his head against the wall.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“We had live video where you could watch us trade. And I learned a lot of things from Dave. He continues to be a good friend, and we've worked together at three or four companies since. He taught me the core importance of being honest with your colleagues when you go to work. And I think the first company you work for in a serious way and the first person you work for is really important in shaping how you view the world and how your career progresses.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, the number one person who comes to mind is a former guest of yours, which is Dave Nodig. Dave Nodig hired me when I was a minor league mascot to become a biotech analyst at the Transparent Mutual Fund he was running at the time.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“About Matt Hogan. Let's see. My career started as a minor league baseball mascot. A mascot. Yeah, I was a nine-foot seal for the AA Portland Sea Dogs. No, I say that in jest. My career path has been very unusual. I've been a speechwriter. I've worked in biotech. I've been a biotech portfolio manager. I ran etf.com. Now I'm in crypto. All those are only united by how much I like to talk about things that seem complex. But that's the unique thing about my career. It's been very, varied over time.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, scale. It costs, yeah, right? It's cheaper to run a large ETF than it is a small ETF. There are just no advantages to a smaller ETF. Now, small ETFs can be liquid and they can do innovative things, but you can't launch a Me Too ETF without a unique distribution mechanism like Charles Schwab has and expect it to gain assets. They'll just all go mostly, not all, but mostly they'll go to the large players. And that's why it's a great business for BlackRock and Vanguard and State Street.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Because ETFs are a natural monopoly system, unlike traditional active mutual funds. In active mutual funds, you need a Cambrian exposure, different guys trying different things. In ETF land, a large liquid ETF is better than a small illiquid ETF. So if you already have good exposure to the S&P 500, you don't really need other funds. Now other funds have popped up because you get distribution in different channels. There may be two or three ETFs offering broad-based exposure, but you're going to see severe concentration in ETF assets as long as they're dominated.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“All the ETFs needing to exist, I think, Ran, I'm going to get this wrong. I think it ran in investment news in 2003. They were like, we've reached the end of ETF innovation and development. You can already buy stocks and bonds. And that was it. And those have appeared over and over and over again. So never discount. I don't think we'll ever get to the end of ETF.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think that's great. I think that's great. If you didn't have that process, you wouldn't have a significant, you wouldn't have the ETF industry for starters. The ETF industry really in real life was launched at BGI when they launched a huge number of ETFs. It wiped out bonuses at BGI for three years. All the executives were angry, but they were like, let's give this a shot. A lot of the ETFs that we take for granted today were spaghetti on a wall, a lot of factor ETFs, low volatility ETFs. So you can't get innovation without some misses. And so I'm fine with them being launched and closed.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's exactly right. So, one, you get into leverage, you may well use features to get those leveraged. There may even be 1x gold futures ETFs. I'm not sure. I don't know why anyone would buy. Gold always trades at a persistent contango that's about equal to the risk-free rate. So you're just losing a little bit of money. The one advantage it would give you is their taxes futures, which if you hold them for short periods of time, is a beneficial tax treatment. So there may be a tax angle for short term traders of gold.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Backwardation is the exact opposite. If oil is at 50, you buy it at 45. As long as the spot price stays at 50, you make $5, which is whatever, 11, 12%. And that's a more positive situation. My issue with ETFs and all these futures-based ETFs is a lot, they're available to all retail investors. And retail investors may think I'm buying oil. That's the spot number that I see on TV. And that's not. You're buying oil futures. Now it's disclosed and disclaimed, and I'm generally in favor of ETFs existing in these markets, and probably they should even exist in volatility. But the educational burden required is massive, or else mom and pop can buy them and get crushed.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure. So Kontango is when you buy a future, you're buying the right to buy it at a future date, say 30 days in the future. Let's say oil, to take account example, is $50 now. The future may be trading at $55. If you buy it at $55 and the spot price doesn't move from $50 over the next month, that $55 future is going to converge down to $50, and you're going to lose $5. That's 10% of your money. The problem with volatility futures is that they almost always trade in Kentango, and it is a very sharp contango. And so you're losing not just a couple percent. You may be losing 10 or 20% of your money every month. And I think people bought those with the thought, hey, volatility is at record lows. It's going to go up. That thought was right. Eventually. Eventually. But what they didn't realize is you're not buying VIX. You're buying VIX futures. And there's just a massive delta between the words VIX and VIX futures.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I don't have a particular problem. I had more of a problem with those when they first came out because people didn't understand them. I feel that people understand them now and the quality of disclosures and information around them are better. My issue with volatility ETFs is people still don't understand them. And they overwhelm the actual volume of volatility futures. And there is massive contango that just makes them, they're testing Zeno's paradox of whether they can actually get to zero. And I think they are doing so in harming investors.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“The people who jumped on blindly when it already moved aggressively. And also, you know, volatile, highly moving assets encourage bad behavioral responses. So there was bad activity. But it did bring a lot of capital and interest and development to the ecosystem. So I do think interesting things will be born from that. But yeah, it was a difficult year in 2018.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that's right. And it did the same thing that happened in the internet, which is it attracted a huge amount of talent. It attracted a huge amount of capital. And it's been very painful for investors. I think out of that,”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“It is significant. Yes, it is still up 300% from the start of 2017 until now. So, from a longer term perspective, you know, people love to make fun of hodlers in crypto, the hold on for dear life. That's the same thing as buy and hold in equity. So you just have to have a little bit more perspective. But yes, it was a massive run-up and a massive pullback.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And there's speculative fervor, and there was every element of a bubble that you or I would recognize, including your bartender, your cabby, and your 2017.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Again, you got to think this is an early stage technology. Right now, the UI for crypto is terrible. If you want to email me, you can email me at Matt at hogan.com. My first name and last name, easymemorable. If you want to send me Bitcoin, it's like 52 random letters. So I think the UI improvements will happen in 2019 and it'll become easy to save, store and spend crypto. I think it's just a matter of software development”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, you couldn't orphan this because all that's written on that is like a 50 letter code. So you could literally, if you wanted to, write it down a piece of paper and you would have it. It is true that it's a digital bearer instrument, like a bearer bond or like a bar of gold. And so if you lose it, and what you lose is that it's lost.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Know Jan, and I don't think that's a surprise. I think they're freed to do it. Fidelity saw that this is important. We know we had conversations with 2,000 institutional and financial advisors last year. There is dramatic interest in crypto. They want good ways to get exposure. Right now, most of the ways are retail oriented and non-institutional grade. And so they say an opportunity to be first, and they're doing it.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Still, reputational risks in crypto. The other big player in crypto is Van Eck, also privately held, also family-owned firm.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, Fidelity's hiring up to 150 people to build a way for institutional investors to buy crypto and store it with a name they trust, right? One of the greatest brand names in the future. You'll ask yourself, why Fidelity and why haven't I seen BlackRock State Street other asset managers? The difference is the Fidelity is a family-owned firm.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, a lot of interest and a lot of interest that's trickling into the endowment and pension space that's investing into crypto through funds like the Andreessen Fund or some of the other funds. A lot of the firms are trying to solve one of two problems. Either they're part of establishing this institutional ecosystem. Because remember, crypto emerged as a retail asset. It trades on lightly or non-regulated exchanges. Right. So you're seeing a lot of investment into regulated exchanges like BACT, which is from ICE, which is launching in Q1. That's one thing. And then the other thing is companies that are improving on the underlying technology and the blockchain technology or building applications on top of that. And like any VC boom, valuations are probably too high. There'll be a pullback, but it's exciting and it means there's a big infusion of capital and big infusion of people working on the project.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there's a very big power law in crypto. So the top 10 captures about 80, 85% of the market. And after that, liquidity falls out. If you think back to the equity market in the early days of emerging markets, you would only buy large caps.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, yeah. Well, we don't know what will happen in crypto, right? It's early. These are competing protocols. They're each optimized for a different use case. And I'm not smart enough to know five years from now whether Bitcoin or Ethereum or Litecoin or Monero or these other assets will be the most important. I just don't know. And so the index gives you a simple way to make a simple bet, which is, I think, crypto will be more important in the future than it is today. And if that's the bet you want to make, you want to make a broadly diversified bet.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“Putting that together. So, at one level, the indexes for our fund is the 10 largest coins. But of course, everything in crypto, which is why I got interested, is more complex than it is in equity. So like you and I could say, what is the price of IBM? And we would say the exact same number. If you ask me what the price of Bitcoin is, I'd have to look at different exchanges, merge them together. So everything is more difficult. But it is a market cap-weighted index of crypto assets. And let me say why I think that's an interesting strategy”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And it makes perfect sense. It makes behavioral sense. I think it matters a great deal, and I can't wait until the day that we get to pick and disclose the ticker.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“And it brought out a lot of bad actors in the space because there were such massive wealth accumulation. But that doesn't mean that there aren't legitimate things. So right now, we have crypto index fund that's available for accredited investors. We have a Bitcoin fund for accredited investors. But the hope is we can launch an ETF that gives that exposure to everyone and makes it safe, cheap, and easy to gain exposure to the market.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“That is right. So a lot of those ICOs were scams. I think were illegal and we'll be prosecuting people who are going to jail. I think people are going to jail and I think they should.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source
“That would be the hope if the SEC approves this ETF, you will be able to buy it through an ETF the same way you buy gold through GLD or silver through SLV. It's the same idea. It's easy exposure in a familiar brokerage window to something you otherwise have to buy in a different way. And so there have been multiple Bitcoin ETFs filed for what it's worth. We're moving forward more aggressively on our end with the Bitcoin filing than the index filing. But yeah, we're hopeful and optimistic that we can work with the SEC. They've raised legitimate issues, but we hope we can work through it, and we'll see.”
2019-02-01 · Masters in Business · Matt Hougan Discusses Cryptocurrency and ETF Indexes (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source