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) | 0.03 | $0.000895 | $705461.9B |
| Bitcoin (BTC) | -0.32 | $86,473.62 | $23.5B |
| Ethereum (ETH) | -3.71 | $2,827.18 | $13.3B |
| Solana (SOL) | -4.07 | $122.519727 | $3.7B |
| USD Coin (USDC) | 0 | $0.999744 | $3.3B |
| XRP (XRP) | -4.58 | $1.833543 | $2.6B |
| Binance Coin (BNB) | -3.77 | $833.14 | $1.3B |
| Dogecoin (DOGE) | -4.76 | $0.124635 | $1.2B |
| TRON | -0.83 | $0.277648 | $886.4M |
| Litecoin (LTC) | -5.04 | $75.00 | $780.0M |