"BlackRock's ETF plus its options is what's meaningfully driving the market. Very few people in crypto retail Twitter talk about that"
Bill and Andrew on the financial engineering narrative crypto doesn't want to talk about
"The financial engineering narrative is one that we don't like. We're Maxis, we're in this because we believe. These new products, whether it's Grayscale five years ago or ETFs now, lend themselves to myriad financial engineering products that do affect the price. But we don't really like to talk about those things"
"They don't fit our narrative of you should just buy Bitcoin and hold because the government's gonna print money forever. That has nothing to do with the financial engineering that's driving a lot of the liquidity, just like Genesis and Grayscale had their perpetual motion machine a few years ago that blew up"
"BlackRock's ETF plus its options is what's meaningfully driving the market. The options have become an absolute behemoth, which again, very few people in crypto retail Twitter talk about"