Kraken’s CF Benchmarks Attains 50% Dominance in Crypto ETFs

As a seasoned crypto investor with a keen eye on the market trends, I’m thrilled to see Kraken’s CF Benchmarks making waves in the Bitcoin ETF space. Their dominance in providing data for around $24 billion worth of these funds is a testament to their expertise and foresight.

CF Benchmarks, a division of Kraken, is experiencing significant success this year due to the rising popularity of Bitcoin exchange-traded funds (ETFs). With approximately $24 billion in assets under management, they serve as primary data providers for many of these ETFs, including major players like BlackRock’s massive $15.9 billion Bitcoin-focused fund.

This company currently controls nearly half the market share in crypto benchmarking and is entering the Bitcoin ETF market in Hong Kong. Their future goals include expanding into South Korea and Israel.

Kraken, a cryptocurrency exchange, is gaining significant advantage from the surge in popularity of Bitcoin spot ETFs (Exchange-Traded Funds) in 2023.

— Bloomberg Crypto (@crypto) May 3, 2024

CEO Sui Chung spearheads CF Benchmarks, keeping it at the cutting edge of the burgeoning ETF trend. In an interview, he remarked, “ETFs have gained immense popularity as preferred investment vehicles in South Korea for long-term savings.”

He added, “It is also a market where digital assets have gained a high degree of adoption.”

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2024-05-03 14:12