Coldcard hack may lift some crypto stocks, spot Bitcoin ETF demand

Analysts said the Coldcard hack could provide a positive signal for some crypto-related stocks and demand for spot Bitcoin ETFs. According to CoinDesk, Wall Street investment bank Cantor Fitzgerald said the incident could prompt Coldcard users to shift to asset management service providers, potentially driving customer inflows and revenue growth for firms including Robinhood (HOOD), Coinbase (COIN), BitGo (BTGO), Bullish (BLSH), eToro (ETOR), and Gemini (GEMI). FRNT Financial, an institutional crypto platform, said the episode highlighted both the strengths and weaknesses of self-custody, and added the Bitcoin community had reacted with grief. For investors unwilling to take on the risks of managing private keys, spot Bitcoin ETFs could emerge as a more attractive alternative, FRNT Financial said.