A New Breed of Investor

The majority of buyers of these new spot bitcoin products are direct investors, with 75% of them having never owned an iShare before. This influx of new investors is a significant departure from the traditional Wall Street crowd. Cohen notes that part of the strategy was to educate crypto investors about the benefits of ETPs, and it appears that this effort has been successful. The rise of spot bitcoin ETFs has attracted a new breed of investor, one that is more comfortable with the decentralized nature of crypto and is seeking a more accessible and transparent way to gain exposure to the asset class.