While some financial advisors aren’t ready to allocate customer money to bitcoin ETFs yet, there’s been an uptick in interest for “bitcoin adjacent” ETFs
It’s been a little over a month since the bitcoin ETFs received regulatory approval to launch in the US.
It was a rocky start at first, with outflows from Grayscale’s spot bitcoin ETF — which was converted from a bitcoin trust — outpacing inflows. To add to that, former exchange FTX also unloaded shares of the ETF.
However, last week’s inflows came in at $1.1 billion, which is much higher than the $415 million of outflows from GBTC.
“US-based spot Bitcoin ETF net flows are consistently positive, while sell pressure from Grayscale Bitcoin Trust outflows is abating,” Thomas Perfumo, Kraken’s head of strategy, told Blockworks.
Valkyrie co-founder Steven McClurg sat down with Blockworks to talk about their bitcoin ETF, which launched alongside BlackRock, Fidelity and a handful of others back in January.
McClurg also touched on why the firm opted to add BitGo as a second custodian for BRRR.
Source: blockworks.co
| Coin | Change(%) | Price | Volume (24h) |
|---|---|---|---|
| Ethereum Meta (ETHM) | 0.83 | $0.000900 | $21959.6B |
| Bitcoin (BTC) | 0.14 | $92,672.93 | $24.7B |
| Ethereum (ETH) | -3.01 | $3,246.81 | $14.7B |
| Solana (SOL) | -0.60 | $136.827895 | $4.1B |
| USD Coin (USDC) | -0.01 | $0.999700 | $3.5B |
| XRP (XRP) | -0.84 | $2.038299 | $2.7B |
| Dogecoin (DOGE) | -2.25 | $0.141153 | $1.3B |
| ZCash (ZEC) | 14.17 | $457.021182 | $1.1B |
| TRON | 0.28 | $0.280737 | $995.1M |
| Binance Coin (BNB) | -1.20 | $887.82 | $955.7M |