As a seasoned analyst with over two decades of experience in the financial industry, I’ve witnessed numerous milestones and shifts in the market landscape. However, none quite compare to the meteoric rise of Bitwise Asset Management in the crypto sphere.
Bitwise Asset Management has hit a significant milestone by managing over $10 billion in client assets, demonstrating growing investor interest in Bitcoin and the broader cryptocurrency market. As a pioneer in offering cutting-edge crypto investment solutions, this asset manager stands as a major influencer shaping an ever-changing financial sector.
Bitwise Records $10B AUM Amid Expanding Crypto Offerings
In a recent X post, Bitwise CEO Hunter Horsley lauded the milestone, attributing it to the firm’s dedication to crypto investments. “This week, Bitwise Invest crossed $10 billion in client assets across the Bitwise suite,” Horsley shared.
As a researcher, I’d like to point out that this company has dedicated its entire Alternative Unmanaged Mandate (AUM) towards Bitcoin and other cryptocurrency investments, demonstrating their strong commitment to this sector. Furthermore, they provide more than 30 customized investment solutions, ranging from Exchange-Traded Funds (ETFs), index funds, hedge funds, to staking options. Of particular interest is their recent filing for a multi-crypto ETF, a move made in response to the growing market optimism.
In Horsley’s view, these solutions facilitate smooth access for investors to diverse cryptocurrency ventures. Moreover, he highlighted the expanding workforce of 95 experts within the firm, who are committed to fostering enduring relationships with investors and upholding the moral principles of the crypto community in the long run.
Notably, a user mentioned the swift expansion of Bitwise’s Assets Under Management (AUM), bringing up a previous discussion with a Bitwise executive. This user pointed out that the firm’s assets were valued at $5 billion not long ago. Horsley indeed verified this figure, underscoring the company’s rapid development as crypto adoption continues to rise.
Bitcoin ETF Inflow Hits Record Amid Soaring Institutional Interest
The achievement of the asset manager highlights the rising trust in digital assets as an investment option. As the cryptocurrency market recovers and institutional involvement intensifies, companies such as Bitwise are playing a significant role in facilitating mainstream acceptance. Moreover, Bitwise’s recent acquisition of an Ethereum staking service attestant signals the firm’s expanding attention towards the crypto sector.
Despite seeing an outflow of approximately $770 million in Bitcoin spots over the past two days, US markets reached a new high earlier this week. In fact, just last week, the Bitcoin ETF experienced a single-day influx of $1.37 billion on November 7, according to Farside Investors’ data. Moreover, this week on November 11, the investment tool reported another inflow of around $1.11 billion.
The significant increase in interest following the U.S. election and Donald Trump’s victory shows a rising market curiosity towards cryptocurrencies. Additionally, influential financial institutions such as Goldman Sachs have disclosed their investment in a U.S. Spot Bitcoin Exchange-Traded Fund (ETF), which has added to market trust.
Currently, the Bitcoin price has increased by more than 4%, trading at approximately $91,156 per unit. The trading volume has decreased by about 16% to around $71 billion. The cryptocurrency reached a 24-hour high of $91,868.74 and achieved its all-time weekly high of $93,434 on November 13.
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2024-11-16 11:36