More traditional finance firms in the United States are jumping on the crypto bandwagon and giving their clients access to the burgeoning sector. This is seen in the increasing portfolio allocation given to crypto investment products.by Bloomberg exchange-traded fund analyst Eric Balchunas has revealed that two U.S.
Balchunas tagged their allocations a “new high water mark” for investment into Bitcoin ETFs, adding that such development is a nightmare for “the RIA Skeptics Branch of the Underwhelmers Club.” On the other hand, the “pretty high” allocations are a wonderful sight for market participants hoping to see long-term adoption.
“This is as Boomer as it gets. We still have 5-6 weeks of more 13F reporting like this too. We could see 500-1000 firms like this reporting holdings once dust settles. And that’s just one 13F season. There are 4 in a year,” the Bloomberg analyst added.by Balchunas showed “WE’RE COMING FOR YOUR COINS DEGENS” boldly written on the company’s homepage. However, the company hadThe $40.8 million investment in FBTC has boosted spot Bitcoin ETF inflows, offsetting last week’s outflows.
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