CoinDesk’s President of Indexes and Data has a message for investors: Don’t ignore Bitcoin.
“When I first got my smartphone, which is a great example of disruptive technology being integrated into my life, I didn’t get my smartphone and say, ‘This is garbage, because I can’t grab a cab in front of my house when I want to take a cab.’ I was so excited that I didn’t have to carry an MP3 player and my phone at the same time,” David Laval said on CNBC’s “ETF Edge” on Monday.
LaValle’s call comes at a tough time for Bitcoin. The cryptocurrency fell by around 2% during the shortened holiday period. Moreover, as of Thursday’s close, Bitcoin is down almost 50% since its all-time high of $126,279 on October 6, 2025.
Bitcoin soared above the key level of $65,000 on Monday, but returned to the $63,000 level by Thursday.
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Bitcoin performance
Despite the losses, LaValle doesn’t think the economic downturn, often referred to as the “crypto winter,” will permanently prevent institutional and retail investors from increasing their exposure to the asset.
“A lot has happened and there has been some downdraft over the last eight years as it pertains to the future of digital assets,” he said. “Unlike previous crypto winters, this one is more like, ‘When will we come back, not if we have a future?’ We see this as a point of credibility.”
Todd Rosenbluth, head of research and editorial at TMX VettaFi, sees an encouraging trend among Bitcoin ETF investors. He noted that they have largely held their level despite continued market uncertainty, which he said is a sign of optimism.
The iShares Bitcoin Trust ETF (IBIT) “has actually just reached net outflows, even though Bitcoin itself has been down for most of this year,” Rosenbluth said in the same interview. “So people were still holding and were actually buying IBIT through the initial drop. It’s encouraging to me that people were holding.”
He pointed to a VettaFi survey of 104 financial advisors conducted in early May. Rosenbluth said it now reveals where his company’s customers stand when it comes to digital assets. It showed that while almost half of them are watching stocks from the sidelines, only 22% are actively investing or building.
“a [crypto] The rebound created a buying opportunity for some people. “Others may be more inclined to think that when something sells too strongly, they don’t want to go near it. But I think demand will continue to evolve,” Rosenbluth said.
Meanwhile, the losses have affected some of the largest Bitcoin ETFs, including the iShares Bitcoin Trust ETF and the Grayscale Bitcoin Trust ETF (GBTC). It has fallen 40% over the past 52 weeks.
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