But not everyone’s on board with the crypto ETF train. Critics argue that Bitcoin-linked ETFs could be even worse than centralized exchanges for the crypto market. Their main beef? There’s zero possibility of withdrawing the underlying instrument. This means the holders are never able to take advantage of the single most important feature of Bitcoin: the ability to control their funds without a need to trust anyone.
And it’s not just talk. The potential of these investment vehicles is already being realized in markets like Canada. The Purpose Bitcoin ETF, for example, raked in over $400 million in assets under management within just two days of its launch. It’s no longer a question of whether crypto is an asset class.
Calvin Shen has more than 10 years of financial services and investment experience across fintech startups and asset management. As the managing director at Hex Trust, Shen works closely with clients globally to provide bespoke blockchain and custody solutions to help them bridge the worlds of digital assets and traditional finance. Prior to joining Hex Trust, Calvin held numerous roles across institutional sales and business development at leading firms such as PIMCO, Figure Technologies, Deloitte and BNY Mellon (NYSE:BK). He holds an MBA from Columbia Business School and a BA in economics from UC San Diego, and is a CFA and CAIA charterholder.