Unexpected Investor Loyalty in Crypto ETFs
Joseph Chalom, co-CEO of Sharplink Gaming and a former BlackRock executive, has expressed surprise regarding the remarkable holding patterns observed among investors in Bitcoin and Ethereum exchange-traded funds (ETFs).
A Veteran’s Perspective on Market Behavior
Having spent two decades at BlackRock, a financial institution with a long history and extensive experience across various market cycles, Chalom acknowledged that the significant capital inflows and media attention surrounding these new crypto ETFs were anticipated. However, it was the subsequent behavior of investors that caught his attention.
The ‘Diamond Hands’ Phenomenon
More than a year after their launch, the sustained commitment of investors in BlackRock’s Bitcoin and Ether ETFs proved noteworthy, exceeding initial expectations. Chalom observed a strong reluctance to sell, indicating a long-term holding strategy among many participants. This ‘diamond hands’ approach, a term often used to describe steadfast investors, highlights a distinctive characteristic of crypto ETF ownership.
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