Flurry of funds bet on bruised bitcoin’s allure ...Qatar

Gulf Times - News
Flurry of funds bet on bruised bitcoin’s allure
source : Gulf Times ( Qatar ) () 23
A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter. Unfazed by a collapse in prices over the past 11 months, investment firms have unleashed a flurry of exchange-traded funds, anticipating that elite cryptocurrencies and their underlying technology will eventually prevail. Of more than 180 total active crypto exchange traded products (ETPs) and trust products globally, half have launched since the bitcoin bear market started, Morgan Stanley said in a note published this month. The proliferation came even as the total value of assets in the market slumped 70% to $24bn in that period as crypto prices tanked. Abo

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