Global demand for cryptocurrency investment products eased last week, with funds seeing $21 million in outflow.

Advisor use of separately-managed accounts as standalone programs and part of unified managed accounts will soon exceed $2 trillion in assets, the research firm found.

It’s a stark difference from the other nine spot Bitcoin ETFs, which have pulled in a total of nearly $1.4 billion.

A spokesperson said Bank of America was wrapping up its evaluation of the new offerings that were approved earlier this week by the SEC. The news comes the same day the bank unveiled its fourth quarter of 2023 earnings report.

Spot Bitcoin ETFs like the 11 just approved by the SEC offer significant advantages over the earlier options for financial advisors seeking to access cryptocurrency exposure, according to CFRA's ETF analyst.

The pros and cons of Bitcoin ETFs and how clients can get in on the action.

The decision comes a day after the commission’s X handle was hacked, with someone falsely posting the SEC had approved the funds.