The approval of spot bitcoin ETFs was a catalyst for the increase in counterparty engagement.
“We are encouraged to see solid progress in growth and maturation in each of the company’s three operating units coming into view over the next few quarters,” analysts led by Joseph Vafi wrote. “Spot bitcoin ETF approvals have been a major catalyst for the increase in counterparty engagement as some of the more traditional asset managers and hedge funds are entering/reentering the space,” the authors wrote.
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