We’re still in ‘early innings’ of bitcoin-related ETPs, CoinDesk’s LaValle says

Summary

David LaValle and Todd Rosenbluth analyze the crypto selloff and Bitcoin ETP landscape, arguing that Bitcoin and Ethereum ETPs are still in early innings of advisor adoption. They see the pullback as a buying opportunity, highlight low-cost Grayscale Bitcoin and Ethereum mini trusts and the income-oriented BTCI ETF as standout products, and note Solana's ecosystem strength. Tokenization of real-world assets is flagged as a long-term wave.

• Over $3B in Bitcoin ETP outflows is small relative to the $100B+ cohort, and ETP redemptions show the products are working as designed.
• This crypto winter is about 'when to get back in' rather than questioning the future of digital assets; Bitcoin and Ethereum are seen as resilient stronger assets.
• Bitcoin ETPs are still early in advisor platform adoption—many house models haven't yet included them, leaving room for growth.
• Grayscale's low-cost Bitcoin (BTC) and Ethereum (ETH) mini trusts have seen net positive inflows, showing demand for fee-efficient exposure.
• The NEOS Bitcoin High Income ETF (BTCI) attracted $500M year-to-date using options to generate income, making it the most popular Bitcoin-related ETF.
• iShares Bitcoin Trust (IBIT) experienced net inflows during the initial downdraft, indicating sticky demand and potential for re-accumulation.
• Solana (SOL) has strong utility and significant ecosystem investment, positioning it as a standout beyond Bitcoin and Ethereum.
• Many financial advisors remain on the sidelines; the pullback is viewed as a buying opportunity for Bitcoin ETF exposure when risk appetite returns.