Canaccord noted that the launch of spot ETFs in the U.S. has led to broader institutional adoption of digital assets.The digital assets industry has bounced back from the collapse of crypto exchange FTX in November 2022 and has returned to growth in the past year, broker Canaccord said in a research report on Wednesday.
The launch of spot exchange-traded funds in the U.S. earlier this year was a positive catalyst for the crypto market.spot ETFs,"we have also seen broader institutional adoption of digital assets and expect portfolio allocations here to continue to increase," the authors wrote. The broker praised Michael Saylor's MicroStrategy for its"continued evolution into a Bitcoin development company," and noted that the shares have risen around 325% in the past year, outperforming most asset classes including BTC, which has gained about 148%.
Wall Street giant Citi noted that the crypto market has struggled since the launch of spot ether ETFs in the U.S., in a report last week.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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