Bitwise: About $70M in Spot Crypto Converted to ETFs in Q3
- —About $70M in spot crypto converted into Bitwise ETFs since the start of Q3
- —58% of advisors said they cannot or do not know if crypto purchases are allowed in client accounts
- —Crypto-equity ETFs were preferred over spot crypto ETFs, which drew 16%
- —The $70M figure does not represent total Bitwise ETF inflows or market-wide conversions
Why it matters: Rising spot-to-ETF conversions signal that institutions and advisors favor ETF wrappers over direct custody, reshaping demand structure.
Source: TokenPost