Bloomberg analyst Eric Balchunas reported this week that spot Bitcoin exchange-traded funds (ETFs) saw roughly $1 billion in net inflows for the week, marking their strongest showing since April and third-strongest since last October when Bitcoin ETFs began gaining traction among institutional investors.
The term “silent IPO” refers to an alleged transition from early Bitcoin holders selling into growing institutional demand. Balchunas noted that this trend underscores a return to robust institutional demand following months of fluctuating flows.
Uncertainty remains regarding whether all hardware wallets, including those developed by developer Coinkite (Coldcard), are now insecure after the company revealed it had suffered a security incident affecting funds.
Written by Oliver Grant
Markets Desk
