Coldcard Security Failure Reignites Debate Over Bitcoin ETFs

A security failure in Coldcard hardware wallets has reignited the debate over Bitcoin exchange-traded funds (ETFs), according to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence.

The incident saw an estimated $88.6 million worth of BTC drained from 4,585 addresses in three suspected attack waves, with Galaxy Research estimating that the total amount taken could be higher.

Balchunas pointed out that investors who want long-term price exposure without managing private keys may find ETFs more appealing than self-custody methods.