Alexander Osipovich
speaker
528 appearances
11 recordings
1 series
first heard Dec 2017
last heard Feb 2025
Alexander Osipovich’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then also in financial advice, there are some digital upstarts that have been offering very cheap financial advice, where basically you're
You get charged zero for the advice, and they make money off of fees baked into the funds that you're investing in.
And this is pretty different from the traditional model where a financial advisor will tell you how to trade and collect 1%, 2% of your assets under management.
Kind of a brave new world in the e-brokerage business.
Yeah, yeah.
Across the board, you're seeing a lot of these companies struggle with the low-fee environment.
There are certainly winners and losers there.
There are technology disruptors.
And, you know, on the whole, I'd say the retail investor wins from this because ultimately you get more selection, lower fees.
Intercontinental Exchange, which is known as ICE for short, had a very particular design in mind for this contract, which could potentially be really, really good in terms of having it be effective, but also made it more complicated to launch.
If you are a trader holding these contracts and you hold them until they expire, then you might get actual digital units of Bitcoin and you have to be ready to handle that.
And ICE had a lot of trouble getting approval from this from the regulator, the CFTC, because of various issues around that process, which is called physical delivery.
Physical delivery, incidentally, is used in a lot of futures contracts, live cattle futures, cocoa futures contracts.
aluminum futures, but it hasn't yet been applied to Bitcoin per se.
There is another futures contract out there on Bitcoin at CME Group, which is the other big futures exchange in the US, and it's not physically delivered.
It is what they call cash settled.
So if you hold the CME contract until it expires, you may get dollars or you might have to pay dollars depending on whether your bet paid off or not.
Yes.
That is kind of the point of the futures market.
Essentially, futures allow some people to manage their risks by hedging and sort of protecting themselves against unfavorable price swings.
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