The $4.3 billion contraction in crypto-related deposits was steeper than estimated, but not a surprise, Raymond James said in a report, also on Tuesday.The bank’s growth is not dependent on “digital currency ecosystem growth,” the note said, adding that while the firm’s exposure to the cryptocurrency ecosystem remains a headwind, since the end of 2019 it has grown loans at an annualized rate of 25.4% and deposits (ex-digital assets) by 26.3%.
Grayscale’s GBTC Sees Inflow for First Time Since Bitcoin ETF’s January Debut
While the Friday inflow ends the streak of net GBTC withdrawals, BlackRock's iShares Bitcoin Trust (IBIT) is challenging the fund...