New SEC filings show banks and hedge funds jumping into spot crypto products, though ether ETFs won't be accounted for until November.
Goldman Sachs made its debut in the spot bitcoin ETF market in the second quarter, purchasing $418 million worth of bitcoin funds.
Ether ETFs just hit the market last month, so those inflows won't show up until filings hit for the third quarter.in January for bitcoin exchange-traded funds to hit the mainstream, many traditional financial institutions across Wall Street and beyond finally had the opportunity to buy into crypto. Since then, money has poured in, but in fits and starts.
Still, the new ETF activity has helped lift bitcoin prices, which hit a record above $73,000 in March. The price has since dropped sharply, to under $58,000, alongside volatility in the boarder markets, though it's still up more than 30% this year.
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