Episode Details

On today's podcast:

1) US regulators for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond.

2) A monthly report on US consumer prices due Thursday will probably show another soft inflation reading thanks in part to more declines in the goods sector, according to Bloomberg Economics.

3) Nikki Haley and Ron DeSantis immediately went on the attack in the final Republican debate before the Iowa caucuses, relentlessly accusing each other of lying and flip-flopping on issues.

4) The judge overseeing New York’s $370 million civil fraud trial against Donald Trump derailed the former president’s plan to make a statement during closing arguments in the case Thursday, citing Trump’s refusal to agree to standard court rules about what he can and cannot say.

Full transcript: 

Good morning. I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today. Bitcoin is trading up seven tenths of a percent to around forty six two hundred and forty dollars. This comes after US regulators for the first time approved exchange traded funds that invest directly in bitcoin. It's a move heralded as a landmark event for the roughly one point seven trillion dollar asset sector, and Bloomberg Crypto editor Anna Aurera says it will broaden access to the largest cryptocurrency the hope. Bitcoin proponents and sort of crypto proponents think it's a big deal because it sort of gives easier access to mainstream investors to investing in crypto. One of the big issues with cryptocurrencies is that you need to self custody it, and that that's exposed is used to hacks and people just stealing your asset. In this case, you would have a custodian like coinbase sort of people that do it professionally holding the underlying bitcoin, and you're just buying shares in it. Bloomberg Santa Rara says the sec authorized funds from industry heavyweights black Rock and Vasco and Fidelity to smaller competitors including Valkyrie, to begin trading today. Well, John, reaction is pouring in after the approval of the bitcoin ETF and we come up with SEC Commissioner hester Purse. I'm delighted that we're at the end of this saga. I know there's still there's still u there's still pieces of it to go, but I think this is a big milestone. The decision by hester Perse and the SEC comes a day after a false post on the SEC's x account claiming that the agency had approved the ETFs. The regulator subsequently said that the account had been compromised and OARC Investment Management. Kathy Woods says the approval of the spot bitcoin ETF will be a price moving event long term. She spoke with Bloomberg's Carol Masser after the SEC decision. I was speaking to Eric belchunis her colleague, and according to his estimates, there's there's four billion dollars waiting, you know, in the wings. And I said to him, well, from your lips to God's ears, that would be amazing. Kathy would also slam the SEC Cherry Gary Gensler. She says Gensler denigrated the whole cryptospace by reiterating the agency does not endorse digital assets. Well, we want to turn to the economy now, John, and Wall Street is bracing for the latest inflation report. Economis