JPMorgan Analyst Criticizes Coinbase’s Lack of Insights Into Its ETF Business
Coinbase reported strong fourth-quarter earnings on Thursday, partly driven by the launch of the ten spot bitcoin exchange-traded funds (ETFs).
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Bitcoin ETF
Coinbase reported strong fourth-quarter earnings on Thursday, partly driven by the launch of the ten spot bitcoin exchange-traded funds (ETFs).
Massive inflows into spot bitcoin ETFs made headlines recently, but there are other metrics that showcase U.S. investors’ appetite for the asset.
While the new spot bitcoin ETFs have received billions in net inflows since opening for business on Jan. 11, a sizable amount of money has been exiting gold ETFs.
Excluding Grayscale’s Bitcoin Trust, the bitcoin exchange-traded funds have accumulated over $11 billion worth of BTC a month after going live.
Excitement was high about one month ago, when TradFi once again got the regulatory go-ahead to launch an entirely new investment vehicle for crypto. The process of bringing to the U.S. market a spot bitcoin ETF took more than a decade, but on Jan. 11, 10 such products finally began trading. It’s been a hell of a ride since.
MicroStrategy co-founder and executive chairman says his company is re-branding as a bitcoin development company during CNBC interview.
The world’s largest crypto has now roughly tripled in price in 2023, surely signaling the end of the industry’s long bear market.
Bitcoin approached the $50,000 level Monday for the first time in more than two years, but selling pressure on exchanges stalled the advance.
Spot bitcoin ETFs attracted Thursday their third-largest net inflows since debut, increasing their holdings by 9,260 BTC.
With a roster of bitcoin ETFs already trading, companies will need to figure out how to differentiate their products.