That's just one of the burning questions we were fortunate enough to ask ETF Analyst James Seyffart, CFA, CAIA, one half of the Bloomberg Intelligence ETF team.
With advisor and platform due diligence still taking place, and major asset allocators still moving the funds through multiple permission tiers – even after some approved their distribution – it could still be months before a clear picture emerges, says James.
Meanwhile, BlackRock's iShares Bitcoin Trust (IBIT) and other 'CFB Six' ETFs using our CME CF BRRNY index for NAV calculation, continue to break records, with IBIT AuM recently hitting $10 billion, the fastest ETF to achieve this milestone.
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Markets rallied last week, with 7.6% gains in the CF Broad Cap and Large Cap (Diversified) indices. DeFi (+13.64%) and Digital Culture (+13.51%) led thematic sectors, while Web 3.0 Smart Contract Platforms (+9.79%) also advanced up, reflecting renewed investor interest in high-beta market segments.
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Given how fast US Bitcoin ETFs became the most successful ETF debuts ever, before the SEC approved in-kind creation and redemption, some observers have suggested the prohibition had little-to-no bearing on demand.
Ken Odeluga
Last week, markets broadly declined: Large and Broad Cap indices fell 5.50% and 5.72%. High-beta themes tumbled— the CF Digital Culture Composite dropped 13.58% and the CF DeFi Composite slid 12.51%. Solana (–14.50%) and Avalanche (–19.55%) lagged, while Bitcoin was most resilient (–3.71%).
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