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) | -2.50 | $0.000903 | $8371.3B |
| Bitcoin (BTC) | -1.39 | $88,822.02 | $10.2B |
| Ethereum (ETH) | -0.52 | $3,085.54 | $5.9B |
| USD Coin (USDC) | 0.01 | $0.999838 | $1.5B |
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| Dogecoin (DOGE) | -3.71 | $0.133898 | $688.4M |
| Litecoin (LTC) | -3.21 | $78.99 | $595.2M |
| ZCash (ZEC) | -5.49 | $409.887548 | $587.0M |