What's Next for Crypto ETFs, ETFs vs DATs, Crypto ETF Explosion & Institutional Inflows | James Seyffart
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We're looking at literally over a 100 ETFs in the crypto world coming to market in the next six to twelve to eighteen months. Wow.
A quick note before we get into the episode with James. Sometimes on Bankless, we record episodes, and then we release them at a later time. And in that window of time between recording and release, things can happen in the world that are relevant to the episode in question. That happened on this episode. The SEC approved the generic listing standards for ETFs, and what that does is it kinda changes the game for how crypto ETFs can come to be. It streamlines the process. It makes it just much more open to the free market rather than having to go through a rigorous step by step approval process
to his partner. He's not his
partner about Junas. James just comes on more podcasts. James, how you doing?
I'm good. How are you guys doing?
Good. Good. Good. Good. Good. Okay. So roughly give or take, we're about like a year and a half into the ETFs. A A bunch of conversations are still to be had, especially with the emergence of DATs. I'm kinda wondering if, like, DATs and ETFs are in conflict with each other. It it maybe that's the first question to start with. Are these things fighting? Is it DATs versus ETFs?
You know, I don't think so. It's like saying, are gold ETFs competing with gold miner ETFs? I mean, know they're not exactly the same thing. I mean, maybe more apt comparison would be Bitcoin miners, but I just view it as another way to access it. It's almost like, I know did you not no one quote me on this directly, but, like, I think of these things as potentially banks, so I do think some of the MNAV's on the DATs, like, have gotten out of control, but, should they be worth more than book value if they're actually actually able to generate yield, particularly in tokens like ETH and Solana,
Okay, James. That's that's that's nice of you to say that about DATs. I think that DAT companies appreciate that for sure. But can you be an ETF purist for just a minute and talk some shit about DATs? Right? Because because isn't the whole thing with ETFs? Like, it is the most capital efficient, purest way to get access to the underlying assets. And something like a DAT just adds additional costs, additional strategic advice.
Some of these word is encumbrance?
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