Bitcoin ETFs Another Milestone Indicated by Bitwise CEO

Hunter Horsley, the CEO of the U.S. asset management heavyweight Bitwise, is excited by the growing interest in the company's spot Bitcoin ETF. Also, 24 of 25 advisors said that clients asked them about crypto in the last 12 months, Bitwise's latest research finds.

63 clients from single wealth firm in California: Bitwise CEO on BTC ETF traction

An unnamed wealth management firm in California, U.S., has onboarded 63 clients to BITB, Bitwise's spot Bitcoin ETF. This accomplishment was registered in less than one year, Bitwise CEO Hunter Horsley shared with his 50,000 followers on X.

In total, the client operates $300 million in assets under management (AUM). Horsley adds that he is happy about this achievement and treats the opportunity to bring TradFi investors into Bitcoin-based products as a privilege.

He also expects "millions" of investors to join spot Bitcoin ETFs.

As of printing time, BITB, the spot Bitcoin ETF by Bitwise, is sitting at $4.08 billion AUM, CoinGlass data says. It is the fifth largest product of this type, only eclipsed by BlackRock, Grayscale, Fidelity and ARK's offerings.

Bitwise spot Bitcoin ETF is responsible for 3.65% of the aggregated AUM of the BTC ETFs segment. With 2.14% weekly Bitcoin (BTC) reserves surge, it is also the fastest-growing ETF in the top league.

96% of clients in U.S. interested in crypto, Bitwise annual survey says

Launched Jan. 11, 2024, Bitcoin spot ETFs amassed over $112 billion of assets under management. The reserves of these 21 funds comprise the largest collective Bitcoin (BTC) reserve ever. IShares Bitcoin Trust ETF (IBIT) is the eighth largest ETF by TVL in the entire investing segment.

Also, this week, Bitwise completed its annual survey of asset managers and advisors. As mentioned in the preview, the results surpassed the boldest expectations for 2024.

A total of 96% of all advisors who participated in the survey confirmed that their clients asked about the opportunities unlocked by the crypto sphere at least once in 2024.

Bitwise researchers admitted that this is the highest level in the seven years of making such reports.