And on Monday (March 11), Britain's financial watchdog became the latest regulator to pave the way for digital asset trading products after saying it will now permit recognized investment exchanges to launch crypto-backed exchange-traded notes.
Speaking with Reuters' Lisa Bernhard, Mayfield explained that unlike ETFs, ETNs are "unsecured debt notes" that don't own the underlying asset, potentially exposing the investor "to the credit risk of the issuing bank."
Baird also explained why both gold, a so-called "safe-haven" asset, and bitcoin, a risky, speculative asset, are rising at the same time.
Finally, Baird weighed in on the possibility of the inflation rate ticking up again in Tuesday's Consumer Price Index for February - and how investors may react.
