Investing.com — Despite the buzz around the exchange-traded funds (ETFs) in the second quarter, the digital assets landscape saw mixed performance, with crypto assets lagging behind more traditional assets, broker Canaccord Genuity stated in a research report on Monday.
Despite major events such as the Bitcoin halving and the SEC’s approval of spot ETFs, Bitcoin remained rangebound. Canaccord attributes this price action to regulatory headwinds, macroeconomic uncertainty, and some cooling off from a strong first quarter.
However, the broker notes a clear maturation across crypto‘s institutional investor base. “Favorable supply-demand dynamics post-halving could add to the ETF tailwinds for Bitcoin,” Canaccord Genuity states. The approval of spot Ethereum ETFs is expected to broaden institutional interest in other digital assets.
The SEC’s approval of both Bitcoin and Ethereum spot ETFs has been a key development. Although…
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