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It\u2019s set to be a historic week in crypto, with the SEC widely expected to finally approve a spot Bitcoin ETF, although it\u2019s not a 100% certainty. Two Bloomberg analysts who have followed all the developments closely since the beginning, James Seyffart and Eric Balchunas, join Unchained to discuss the final filings, the likely schedule, and whether all the applications are likely be approved on the same day. Then they dive into the real action: the cutthroat wars that have already begun, why Grayscale might be keeping its fees on the Grayscale Bitcoin Trust so high, and who the likely winners in what has traditionally been a \u201cwinner take most\u201d category will be.\xa0\nListen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.\nShow highlights:\n\nWhat the recent 19b-4 and S-1 filings\xa0say about how close the ETFs are to approval\n\nWhether Hashdex's existing futures ETF impacts its treatment in the spot Bitcoin ETF process\n\nThe likely timeline for trading to start post-ETF approval\n\nThe possibility of simultaneous launches for all approved ETF issuers\n\nThe SEC's concerns about ensuring a fair launch, informed by the BITO experience\n\nEric\u2019s surprise at JP Morgan's involvement as an Authorized Participant\n\nWhy the SEC is approving the ETF despite Gensler\u2019s stance against crypto\n\nWhat extreme cases Eric believes might cause the ETF not to be approved\xa0\n\nHow BlackRock's low fees set a challenging benchmark for competitors\n\nThe potential for an issuer to offer even lower fees than current players\n\nHow issuer margins are thin due to marketing fees, and the impact of waivers\n\nJames\u2019 theory about why Grayscale might be keeping the fee on GBTC so high\n\nPredictions about which issuer(s) will gain the bulk of assets under management\n\nThe rumor about BlackRock introducing substantial liquidity on the ETF's first day\n\nEric and James's expectations for ETF inflows and market dynamics\n\nThank you to our sponsors!\n\nArbitrum Foundation\n\nPopcorn Network\n\nGuest:\n\n\nJames Seyffart, Research analyst at Bloomberg Intelligence\n\nPrevious appearances on Unchained:\n\nWhy the SEC May Want Cash Creation of Spot Bitcoin ETFs\n\nWhy It Looks Like BlackRock Could Win America\u2019s First Spot Bitcoin ETF\n\nWhy a Spot Bitcoin ETF Will Probably Launch No Later Than January 10\n\n\nEric Balchunas, Senior ETF analyst at Bloomberg Intelligence\n\nPrevious appearances on Unchained:\n\nWill a Spot Bitcoin ETF Finally Get Approved?\n\nLinks\n\nPrevious coverage of Unchained on spot Bitcoin ETFs:\n\nThe 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share\n\nHow Much Money Will Flow Into Bitcoin ETFs? Here\u2019s One Projection\n\nThe Chopping Block: Are We Back? The \u2018Low IQ\u2019 Response to the Potential Spot Bitcoin ETF\n\nFees\xa0\n\nUnchained: Fee Competition Heats Up Among BlackRock and Other Spot Bitcoin ETF Applicants\n\n\nCaitlin Long\u2019s tweet warning about no fees\n\nFidelity set their fee to .39%\n\nInvesco/Galaxy chose to waive fees\n\n\nMarket participants:\n\nUnchained: Goldman Sachs Could Take Vital Role in BlackRock, Grayscale Spot Bitcoin ETFs: Report\n\n\nThe Block: Nasdaq to meet with SEC today to discuss spot bitcoin ETFs: Source\n\n\nReuters: BlackRock, VanEck among asset managers that submitted updated filings for spot bitcoin ETF\n\n\nCoinDesk: BlackRock, Valkyrie Name Authorized Participants Including JPMorgan for Bitcoin ETF\n\n\nOthers:\n\nBetter Markets\u2019 letter: The SEC Must Follow the Law and Reject Spot Bitcoin ETPs Which Will Inflict Massive Investor Harm\n\n\nFXSTREET: BlackRock might be on track to create history with $2 billion inflows in spot Bitcoin ETF in a week\n\n\n\nEleanor Terrett of Fox News\u2019 tweet on Better Markets\u2019 letter\n\n\n\nScott Johnson of Van Buren Capital\u2019s estimate\n\n\nLearn more:\xa0\n\nUnchained:\xa0\n\nBitcoin ETFs Explained: What Are They & How Do They Work?\n\nWhy The Spot Bitcoin ETF Is a Big Deal\n\nDeciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF?\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices