'Massive Opportunity': GSR's Matt Kunke Highlights The Potential Of A US Spot Bitcoin ETF

Matt Kunke is a research analyst for GSR Markets – a leading firm providing liquidity, trading and risk management solutions for crypto markets.

Kunke is a passionate crypto analyst, supporting GSR’s products and services while providing valuable insights to notable Web3 media outlets like CoinDesk.

Before GSR, Kunke was a research analyst for Global X ETFs and worked for household finance institutions such as J.P.Morgan and Credit Suisse. Interestingly, he started his career as an intern on the trading floor of the New York Stock Exchange, before making his way to the Web 3 space. He is a CFA chartholder and a graduate of Portland State University.

Kunke will be among the DeFi professionals participating at Benzinga’s exclusive Future of Digital Assets event on Nov. 14 in New York City.

He will discuss the topic titled "Harnessing Blockchain Data and Market Insights for Informed Decision-Making in Digital," elaborating on the latest ways of making strategic decisions within the Web 3 realm.

Also Read: Powell Closes The F—— Door On Early Rate Cut Hopes: Stocks, Bonds Tumble While Dollar Rallies.

With institutional adoption and a Bitcoin BTC/USD ETF currently in the spotlight, Kunke recently co-authored an article elaborating on why that is such a big deal.

"A U.S. spot bitcoin ETF is a massive opportunity because of the sheer size of the U.S. capital markets. In fact, SIFMA estimates that the U.S. accounts for a full 40% of total global fixed income assets and equity market cap. Moreover, ETFs in the U.S. represent a greater percentage of total assets than in other jurisdictions, coming in at 7% of equity and fixed income assets versus 4% in Europe and 2% in Asia-Pacific," he co-wrote for CoinDesk.

With an estimation of about $50 trillion in assets by banks, broker-dealers and registered investment advisors, percentage-wise it wouldn't take much to move Bitcoin's price.

A U.S. spot Bitcoin ETF is unquestionably the next step in BTC's legitimacy, as it resolves many existing hurdles.

While critics point to the existence of Bitcoin futures ETFs, Kunke addresses the disadvantages of futures-based construction – particularly regarding tax inefficiencies, tracking error and roll costs that make them inappropriate for buy and hold strategies.

Still, ETF veteran Matt Hougan recently warned investors to "Moderate their spot bitcoin ETF expectations," pointing out previous experiences and the launch of the first gold ETF in 2004.

To have a chance to hear top Web 3 professionals like Kunke and Hougan debating the latest topics in the digital assets space – Join Benzinga’s Future of Digital Assets in NYC on Nov. 14, 2023. Tickets are flying — get yours!

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