“We may be at a generational moment in time for individual crypto investors,” Hashdex CIO Samir Kerbage noted about the recent wave of large financial institutions like BlackRock and Fidelity getting more involved with $BTC. sndr_krisztian reports
Bitcoin’s latest surge has also coincided with decoupling from the performance of U.S. equities such as the S&P 500 and Nasdaq indices, its 30-day correlation turning negative last week for the first time since January 2021, K33 noted.
"This illustrates that U.S. traders are allocating in BTC due to idiosyncratic reasons" as a portfolio diversification, Vetle Lunde, senior analyst at K33, wrote.BlackRock’s initiative has also rejuvenated institutional activity on the BTC market. Open interest on the Chicago Mercantile Exchange futures market, a favored venue among sophisticated investment firms, has been nearing its all-time high, K33Digital asset funds recorded $199 million of inflows last week, the largest in almost a year, with bitcoin-focused funds enjoying 94% of all inflows,The recent activity showcases an inflection point in crypto’s institutional adoption, Samir Kerbage, chief investment officer at crypto asset management firm Hashdex,"The current...
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