According to ChainCatcher, Samara Cohen, chief investment officer of BlackRock ETF and index investment, said at the Coinbase Cryptocurrency Summit in New York that about 80% of current Bitcoin ETF purchases may come from "self-directed investors, who are usually configured through online brokerage accounts." According to last quarter's 13-F filings, hedge funds and brokerage firms have also become buyers, but registered investment advisors are somewhat more "cautious." Financial advisors' concerns about Bitcoin include cryptocurrency price volatility and its relatively short record.
Samara Cohen said that Bitcoin ETFs can serve as a bridge between cryptocurrencies and traditional finance.
