Bloomberg ETF analyst Eric Balchunas said that the recent hacking of the Coldcard hardware wallet could make spot BTC ETFs feel like a better investment for some investors, including long-term Bitcoin holders. He explained via X that "unlike small companies with five employees like Coldcard, ETF issuers and custodians are large financial institutions that have managed customer assets for decades, which can be seen as a strength. While there's no guarantee that investment losses can be avoided if an ETF custodian is hacked, there's at least a high probability of immediate investigation and inquiry by regulatory authorities." Previously, damages of approximately 1816 BTC were reported due to a code flaw in Coldcard, and the company advised users to perform security updates, generate new seeds, and move their funds, stating that the security threat remains.
