PANews|Aug 04, 2026 12:01
[Bloomberg ETF Analyst: Coldcard Incident May Drive More Funds Toward Bitcoin ETFs]
Bloomberg ETF analyst Eric Balchunas stated that the recent Coldcard wallet security incident could prompt more investors to allocate assets through Bitcoin ETFs. In the past, the crypto community often viewed the custody of Bitcoin by traditional financial institutions as a 'flaw,' believing that the 'old-school Wall Street financial system' (boomer TradFi) lacked the spirit of decentralization. However, with security incidents involving self-custody wallets like Coldcard, the decades of experience traditional financial institutions have in safeguarding client assets may suddenly shift from a 'disadvantage' to a 'selling point.' Eric Balchunas noted that compared to a Canadian company with only five employees, large financial institutions may inspire greater trust among some investors in terms of asset custody, risk management, and security systems.
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