Crypto-Product Pipeline Goes Bust as Survival Questioned
- ETF Store’s Geraci sees ‘wave of crypto-related liquidations’
- Just 14 products debuted in third quarter, only one in October
A collection of bitcoin, litecoin and ethereum tokens.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Even before the collapse of the FTX exchange brought the crypto industry to heel, the boom in virtual-currency exchange-traded products was deflating.
Launches worldwide for ETPs focused on digital assets have dwindled to a trickle, from 58 in the first half of the year to 14 in the third quarter, with just one debut in October, according to data compiled by Bloomberg. None have come to market so far in November, a month that’s seen the implosion of a number of once-supreme crypto firms.