According to CNBC , Samara Cohen, chief investment officer of BlackRock ETFs and Index Investments, said at the Coinbase Cryptocurrency Summit in New York City that currently about 80% of Bitcoin spot ETF purchases may come from "self-invested investors." , who allocate their own investments, often through online brokerage accounts.
In addition, Samara Cohen further pointed out that according to last quarter’s 13-F filing, hedge funds and brokerage firms are also buyers of Bitcoin ETFs, but registered investment advisers (Registered investment advisers) have a more “cautious” attitude towards this.
Foreign media CNBC recently surveyed these consultants and asked them and their colleagues why they are cautious about these new products. The answers range from the fact that Bitcoin's dramatic price swings are too extreme to the fact that the asset class is still too new and has yet to establish a long-term historical record. Additionally, regulatory compliance and cryptocurrency scams and scandals are also factors advisors consider.
Samara Cohen said that investment advisers are fiduciaries for their clients. Their job is to build investment portfolios, conduct risk analysis and due diligence, and they are now doing these investigations on the Bitcoin asset and will need time to gradually accept these new products.
“This is a critical time when it comes to providing important data and conducting risk analysis, as well as determining the likely role of Bitcoin in an investment portfolio. Determining the appropriate allocation ratio will be based on the investor’s risk tolerance and liquidity needs.”
Samara Cohen believes that Bitcoin ETFs have become an important bridge between cryptocurrency and traditional financial fields, especially for investors who want to invest in Bitcoin but are unwilling to manage risks between two completely different ecosystems. Prior to the launch of ETFs, established ways of entering the cryptocurrency market were less than ideal for some investors.
