Broker Canaccord Genuity said in a research note on Monday that while there has been much debate about how much assets under management (AUM) Bitcoin spot ETFs have attracted, it is now increasingly clear that these ETFs are driving additional demand for Bitcoin itself.
The broker held its 2024 Digital Assets Symposium last Thursday and invited leaders from 29 crypto-related companies to participate. Analysts led by Joseph Vafi wrote: "It is now increasingly clear that ETFs are having a substantial multiplier effect, driving additional demand for Bitcoin spot itself." (CoinDesk)