Coinbase: Increased Institutional Flows Into Spot Bitcoin ETFs a 'Promising' Indicator
According to Coinbase weekly market report, the latest 13F filing for the U.S. spot bitcoin exchange-traded fund (ETF) shows signs of growing institutional interest in the digital asset. The report states, “A growing portion of these flows appear to be driven by institutions, with institutional holdings rising from 21.4% to 24.0%.” The report highlights the increase in institutional inflows in the “investment advisor” category. These advisors manage large sums of money and often make asset allocation, investment strategy and security-specific purchasing decisions on behalf of their clients,” said Coinbase analysts David Duong and David Han. ”We think the continued inflows into the spot Bitcoin ETF during a period of underperformance for Bitcoin could be a promising indicator that the ETF has access to new capital. continued interest in cryptocurrencies from new pools of money accessible to ETFs.”
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