Kraken Unit Quietly Claims Pivotal Position in Bitcoin ETF Boom
- CF Benchmarks has emerged as major provider of crypto indexes
- Firm sees untapped Bitcoin ETF demand in South Korea, Israel
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A unit of crypto exchange Kraken is emerging as a key beneficiary of this year’s boom in spot-Bitcoin exchange-traded funds, which debuted in the US in January and rolled out in Hong Kong this week.
The unit, CF Benchmarks, said it provides reference data for about $24 billion in cryptocurrency ETFs, mostly Bitcoin funds including BlackRock’s US-based $15.9 billion vehicle. The company licenses its benchmarks to the funds in return for fees that typically climb alongside assets under management.