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 |
| Dogecoin (DOGE) | 0.42 | $0.072065 | $21.3B |
| Bitcoin (BTC) | 1.81 | $59,752.52 | $16.4B |
| Ethereum (ETH) | 1.86 | $1,605.15 | $5.4B |
| USD Coin (USDC) | 0.02 | $0.999673 | $5.1B |
| TRON | 0.52 | $0.316045 | $4.6B |
| Litecoin (LTC) | 1.08 | $42.54 | $2.1B |
| Solana (SOL) | 4.76 | $77.352793 | $2.0B |
| XRP (XRP) | 0.86 | $1.048760 | $1.0B |
| Avalanche (AVAX) | 1.46 | $6.659601 | $749.7M |