Show notes
This bonus episode of Public Keys was recorded live at Consensus. Host Jennifer Sanasie sits down with three guests at the center of crypto in the public markets. Grayscale's Krista Lynch breaks down how crypto ETFs have evolved from simple bitcoin access into index products, in-kind creation for crypto whales, and early staking. Morgan Stanley's Amy Oldenburg explains how MSBT became the firm's most successful ETF launch ever — $230 million in three and a half weeks at 14 bps — while the firm simultaneously rolls out spot crypto trading across its $7 trillion wealth platform. And BitGo CEO Mike Belshe joins four months into his IPO to discuss the firm's OCC charter and why the Clarity Act matters more as a legislative stamp of approval than anything it changes on day one.
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Timecodes:
00:00 Welcome to Public Keys: A Bonus Episode from Consensus
00:55 Grayscale's Krista Lynch Joins Public Keys
01:30 Eight Single-Token ETFs and the Rise of Crypto Indexing
02:20 In-Kind ETF Creation Brings Crypto Whales to Wall Street
04:00 Why Crypto Whales Want ETF Exposure
06:00 Advisor Education and the State of Crypto Onboarding
07:00 Staking Comes to the ETF Wrapper
08:30 Morgan Stanley's Amy Oldenburg Joins Public Keys
09:00 The 50 bps Spot Crypto Trading Fee
10:00 Top-of-House Alignment at Morgan Stanley
11:00 What Was Happening Behind the Scenes in 2024
12:30 MSBT: $230M and Morgan Stanley's Most Successful ETF Launch Ever
14:00 Over-Hyped or Underrated: $1B in MSBT by Year-End
16:00 BitGo CEO Mike Belshe Joins Public Keys
17:00 Four Months Into Life as a Public Company
17:30 The Institutionalization of Crypto Infrastructure
18:30 Why the Genius and Clarity Acts Matter
20:30 Coinbase Still Charges Retail 130 bps
22:30 BitGo's OCC Charter and the Future of Reserve Banking
23:30 What the Clarity Act Actually Changes
24:30 TradFi Is Waiting for the Legislative Stamp of Approval
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This episode was hosted by Jennifer Sanasie.
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