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Nearly $200 million worth of crypto ETF holdings revealed by DRW Venture Capital, led by ETHE 😉

Nearly $200 million worth of crypto ETF holdings revealed by DRW Venture Capital, led by ETHE 😉

DRW Sees Rising Institutional Interest in Ethereum ETFs

DRW, a prominent trading firm, has significantly increased its exposure to Ethereum-based exchange-traded funds (ETFs) this year. The move comes amid growing interest in the second-largest cryptocurrency by market capitalization.

Spot ETH ETFs Gain Approval

  • The SEC recently approved the first wave of spot ether ETFs for trading in July.
  • This development follows the successful launch of spot bitcoin ETFs six months prior.
  • Despite the popularity of bitcoin-based funds, Ethereum-focused ETFs have yet to attract comparable levels of investment.

DRW’s Position in the Market

  • DRW holds a significant amount of ETH ETFs, surpassing its bitcoin ETF holdings.
  • Grayscale’s Ethereum Trust (ETHE) is one of DRW’s top three holdings.
  • The firm’s exposure to BTC ETFs is diversified across various funds and providers.

DRW’s Growing Presence in Crypto

  • DRW has been actively involved in the cryptocurrency space since 2018.
  • Its market-making unit, Cumberland, serves as a liquidity provider for multiple bitcoin ETFs.
  • Cumberland recently received a “BitLicense” from the New York State Department of Financial Services.

Hot Take: DRW’s Bet on Ethereum ETFs Signals Institutional Confidence

DRW’s increased investment in Ethereum ETFs highlights a growing institutional appetite for the cryptocurrency. As the market evolves, more firms are recognizing the potential of Ethereum and diversifying their portfolios accordingly.

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Nearly $200 million worth of crypto ETF holdings revealed by DRW Venture Capital, led by ETHE 😉