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) | 1.29 | $0.000810 | $119.5B |
| Bitcoin (BTC) | 1.20 | $76,356.05 | $14.6B |
| Ethereum (ETH) | 1.65 | $2,092.04 | $6.1B |
| USD Coin (USDC) | 0 | $0.999679 | $1.7B |
| Solana (SOL) | 1.39 | $85.173192 | $1.4B |
| XRP (XRP) | 1.00 | $1.347683 | $874.6M |
| Litecoin (LTC) | -0.15 | $52.75 | $702.1M |
| Near (NEAR) | 8.18 | $2.443180 | $647.1M |
| ZCash (ZEC) | 8.34 | $658.453782 | $640.7M |
| Binance Coin (BNB) | 1.28 | $655.31 | $386.4M |