This week’s Crypto Biz covers the buzz surrounding Bitcoin, the outlook for Ether ETFs, Ubisoft as an XPLA validator, Coinbase’s challenges and global banks taking on blockchain.
Asset managers expect inflows into Bitcoin (BTC) exchange-traded funds (ETFs) to accelerate further in the second half of 2024. Bitwise, for instance, has been involved in “serious due diligence” discussions with institutions representing “trillions of dollars in assets” seeking to add or increase exposure to Bitcoin ETFs in the coming months.
Matt Hougan, Bitwise’s chief investment officer, said in a memo to investors that many individual investors, family offices, hedge funds and venture capital firms are poised to increase their stakes in spot Bitcoin ETFs by the end of June.
Overseas investors are also interested in investing in Bitcoin ETFs. Thailand’s Securities and Exchange Commission reportedly amended its rules to allow private funds to invest in spot Bitcoin ETFs traded on United States exchanges. Brazil made a similar move weeks ago, enabling investors to invest in BlackRock’s ETF through depositary receipts.
