Samara Cohen, chief investment officer for BlackRock ETFs and Index Investments, told the Coinbase Cryptocurrency Summit in New York that about 80 per cent of current bitcoin ETF purchases are likely to come from "autonomous investors, who are typically allocated through online brokerage accounts". Hedge funds and brokerages have also become buyers, but registered investment advisers are somewhat more "cautious", according to last quarter's 13-F filing. Financial advisers' concerns about bitcoin include the cryptocurrency's price volatility and its relatively short track record. Samara Cohen, chief investment officer of BlackRock ETFs and Index Investments, said that Bitcoin ETFs can serve as a bridge between cryptocurrencies and traditional finance.