Bitcoin ETF inflows surged after the Coldcard hack, but it’s still unclear whether the two are related?
U.S. spot Bitcoin ETF funds have recorded continuous inflows of around $620M since the Coldcard cold-wallet incident last weekend.
TRM Labs estimates the Coldcard incident caused losses of more than $116 million $BTC from over 5,200 wallet addresses. The close timing of the two events has led many to wonder whether investors are shifting from self-custody of Bitcoin to ETFs, where custody and security are handled by professional institutions.
A Bloomberg expert said there is currently no data proving a direct link between the two events, but in the long run there may be a segment of users who choose ETFs after personal wallet security incidents.
U.S. spot Bitcoin ETF funds have recorded continuous inflows of around $620M since the Coldcard cold-wallet incident last weekend.
TRM Labs estimates the Coldcard incident caused losses of more than $116 million $BTC from over 5,200 wallet addresses. The close timing of the two events has led many to wonder whether investors are shifting from self-custody of Bitcoin to ETFs, where custody and security are handled by professional institutions.
A Bloomberg expert said there is currently no data proving a direct link between the two events, but in the long run there may be a segment of users who choose ETFs after personal wallet security incidents.
