US spot Bitcoin exchange-traded funds recorded inflows on every trading day since the weekend Coldcard wallet exploit, with combined inflows of about $620 million, according to Bloomberg ETF analyst Eric Balchunas. BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITB and ARK 21Shares' ARKB were among the funds included in the streak.
The timing has prompted speculation that some investors could be moving toward regulated investment products after the security incident. Balchunas said there is no evidence connecting the ETF flows to the hack and that the relationship remains uncertain. The inflows therefore show concurrent market activity, rather than a confirmed shift in custody preference.
The Coldcard exploit resulted in more than $116 million in Bitcoin being stolen from over 5,200 wallet addresses, according to TRM Labs. The incident has renewed debate over hardware-wallet security, private-key management and the relative risks of self-custody and centralized exchanges. It has also highlighted the difficulty of measuring self-custody losses, many of which may go unreported.
https://cointelegraph.com/news/what-happened-in-crypto-today
The timing has prompted speculation that some investors could be moving toward regulated investment products after the security incident. Balchunas said there is no evidence connecting the ETF flows to the hack and that the relationship remains uncertain. The inflows therefore show concurrent market activity, rather than a confirmed shift in custody preference.
The Coldcard exploit resulted in more than $116 million in Bitcoin being stolen from over 5,200 wallet addresses, according to TRM Labs. The incident has renewed debate over hardware-wallet security, private-key management and the relative risks of self-custody and centralized exchanges. It has also highlighted the difficulty of measuring self-custody losses, many of which may go unreported.
https://cointelegraph.com/news/what-happened-in-crypto-today
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