The recent approval of spot Bitcoin exchange-traded funds (ETFs) is fueling a resurgence of interest in cryptocurrency markets with hedge funds, a core client base for Goldman Sachs, showing renewed enthusiasm for the asset class.
According to data from BitMEX Research, the ten spot Bitcoin ETFs approved by the U.S. Securities and Exchange Commission collectively shed a total of $888 million over the past week, with the exodus being led by a record outflow day for Grayscale's GBTC on March 18th.
BlackRock's Head of Digital Assets, Robert Mitchnick, has said that Bitcoin is the primary interest of the firm’s clients, with Ethereum attracting “ a little bit” of attention and every other cryptocurrency seeing “very, very little demand.”
Top stories in the Crypto Roundup today:
- Goldman’s Hedge Fund Clients Ramp Up Crypto Options Trading
- Spot Bitcoin ETF Frenzy Cools Off After Week of Outflows
- Bitcoin Tops Client Interest at BlackRock While ETH Sees ‘a Little Bit’ of Demand, Says Head of Digital Assets