Will Canny is CoinDesk's finance reporter.
The software company is well positioned to benefit from the upcoming bitcoin halving, the report said.halving set to occur around April 20, when new supply of the cryptocurrency will be cut by 50%, broker Benchmark said in a research report on Monday.
“While the upcoming bitcoin halving will create a supply shock as the previous ones had, we believe the event’s impact could be magnified by the concurrent demand shock created by the emergence of spot bitcoin exchange-traded funds ,” Palmer wrote, adding that “we expect inflows into spot bitcoin ETFs to grow dramatically once institutions begin to invest in them in earnest.”
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