As a researcher with over two decades of experience in the financial industry, I must say that the rapid growth and increasing interest in Bitcoin and cryptocurrencies are truly astounding. Having witnessed the evolution of traditional finance (TradFi) and its slow adaptation to new technologies, it’s fascinating to see how quickly wealth managers and advisors are embracing digital assets like Bitcoin.
In my career, I have never seen such a swift shift in investor interest as the one demonstrated by the unnamed wealth management firm in California onboarding 63 clients to Bitwise’s spot Bitcoin ETF within a year. The fact that this achievement was accomplished by a $300 million AUM firm underscores the growing appeal of Bitcoin-based products among traditional investors.
Moreover, the findings from Bitwise’s annual survey revealing that 96% of all advisors received questions about crypto last year further validate this trend. It is remarkable to see such a high level of interest in digital assets, surpassing even the boldest expectations for 2024.
It seems that we are finally witnessing the convergence of TradFi and DeFi, with traditional investors eagerly embracing the opportunities unlocked by the crypto sphere. It’s an exciting time to be a part of this transformation, and I can’t help but wonder – will it be long before we see even the most skeptical TradFi players jumping on the Bitcoin bandwagon?
As for my own experience, I remember the days when explaining Bitcoin to colleagues was like trying to explain the internet to someone in the 90s. Now, it’s becoming mainstream, and it’s a privilege to be part of this journey. And just as a little joke, I can’t help but think that the next milestone will be when even my grandma asks me about Bitcoin!
Hunter Horsley, CEO of Bitwise Asset Management – a major player in U.S. asset management – expresses enthusiasm over the increasing attention towards their Bitcoin ETF. Moreover, according to recent Bitwise research, approximately 96% of financial advisors reported that clients have inquired about cryptocurrency within the past year.
63 clients from single wealth firm in California: Bitwise CEO on BTC ETF traction
A wealth management company based in California, USA, has successfully added 63 clients to the Bitwise-managed Bitcoin Exchange Traded Fund (ETF), known as BITB. This significant achievement was achieved within just a year, as revealed by Bitwise CEO Hunter Horsley to his over 50,000 followers on social media platform X.
Today, a wealth management firm based in California notified us that they have invested 63 of their clients in Bitcoin through our ETF. This news brings me immense joy. By facilitating investment opportunities like these, wealth managers are enabling millions of investors to engage with the potential of this digital space. It’s truly an honor to be a part of this supportive role.
— Hunter Horsley (@HHorsley) January 4, 2025
The client manages a total of $300 million in investments. Horsley expresses satisfaction with this accomplishment, viewing it as an honor to help traditional finance investors invest in Bitcoin-related products.
He also expects “millions” of investors to join spot Bitcoin ETFs.
At the moment I’m analyzing, Bitwise’s spot Bitcoin ETF (BITB) stands at approximately $4.08 billion in assets under management (AUM). According to CoinGlass, it ranks fifth among these types of products, trailing behind those offered by BlackRock, Grayscale, Fidelity, and ARK. In simpler terms, when it comes to Bitcoin ETFs, BITB is the fifth largest, with four other providers having larger offerings.
As a crypto investor, I’m thrilled to note that the Bitwise Spot Bitcoin ETF makes up approximately 3.65% of the total assets under management (AUM) within the Bitcoin ETF segment. What’s more, it’s the swiftest-growing ETF in the elite group, with a weekly increase of 2.14% in Bitcoin (BTC) reserves.
96% of clients in U.S. interested in crypto, Bitwise annual survey says
On January 11, 2024, Bitcoin spot ETFs accumulated more than $112 billion in assets, making them the largest collective Bitcoin reserve to date. The IShares Bitcoin Trust ETF (IBIT) ranks as the eighth largest Exchange Traded Fund (ETF) by total value locked (TVL) across all investment categories.
Additionally, it’s worth noting that Bitwise recently concluded its yearly poll among financial managers and consultants. Notably, the findings have outstripped the most optimistic forecasts for 2024, as previously hinted in the introduction.
As a financial advisor with over two decades of experience in the industry, I have seen my fair share of market trends come and go. However, the recent surge of interest in cryptocurrency among clients has taken me by surprise. Last year, an astounding 96% of all advisors received a question about crypto from their clients, which is the highest-ever reading we’ve seen in our seven years of conducting surveys. This statistic truly underscores the growing importance of understanding and being knowledgeable about this rapidly evolving asset class. I can’t wait to delve deeper into the findings of our upcoming survey and share the insights with my colleagues and clients. It’s an exciting time to be in the financial services industry!
— Bitwise (@BitwiseInvest) January 3, 2025
Approximately 96% of the advisors who took part in the survey admitted that, at least once in 2024, their clients inquired about the possibilities associated with the cryptocurrency market.
Bitwise researchers confessed that this is the peak they’ve reached in their seven-year history of producing such reports.
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2025-01-04 15:49