Bitwise Spot Bitcoin ETF Asset Management Scale Reaches $1.2 Billion
Key Points:
- Bitwise spot Bitcoin ETF attracted $21 million on February 16, contributing to a weekly total of $230 million and reaching an asset management scale of $1.2 billion.
- The ETF joins five US-based Bitcoin funds with assets exceeding $1 billion, underscoring growing institutional interest in cryptocurrency.
- Chief Investment Officer Matt Hougan anticipates continued growth over the next 18 months, fueled by increasing institutional demand.
On February 16, Bitwise CEO Hunter Horsley announced that a staggering $21 million had poured into the Bitwise spot Bitcoin ETF (BITB), indicating robust investor interest in Bitcoin.
Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice
Bitwise Spot Bitcoin ETF Surpasses $1.2 Billion in Assets
This influx contributed to a weekly total of $230 million and boosted the fund’s asset management scale to approximately $1.2 billion.
The Bitwise spot Bitcoin ETF now joins an elite group of five US-based Bitcoin funds with assets exceeding $1 billion. Notably, Grayscale Bitcoin Trust leads the pack with $20.27 billion, trailed by BlackRock’s iShares Bitcoin Trust at $3.31 billion and Fidelity’s Wise Origin Bitcoin Trust at $2.75 billion.
Chief Investment Officer Matt Hougan expressed surprise at the ETF’s rapid growth, surpassing initial expectations. However, he cautioned that sustaining such growth economically might pose challenges, projecting a timeline of 18 months for continued expansion.
Challenges Ahead as Bitwise ETF Anticipates Continued Expansion
Ranked fourth in market capitalization, Bitwise‘s success is attributed in part to its modest 0.2% fee structure, though adjustments may occur with increased transaction volume.
Anticipating continued growth, Bitwise credits institutional interest and demand for driving future expansion. Yet, achieving this milestone wasn’t without effort; the company engaged in over 20,000 meetings with financial advisors last year in anticipation of regulatory approval.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
Bitcoin
Bitwise Spot Bitcoin ETF Asset Management Scale Reaches $1.2 Billion
Key Points:
- Bitwise spot Bitcoin ETF attracted $21 million on February 16, contributing to a weekly total of $230 million and reaching an asset management scale of $1.2 billion.
- The ETF joins five US-based Bitcoin funds with assets exceeding $1 billion, underscoring growing institutional interest in cryptocurrency.
- Chief Investment Officer Matt Hougan anticipates continued growth over the next 18 months, fueled by increasing institutional demand.
On February 16, Bitwise CEO Hunter Horsley announced that a staggering $21 million had poured into the Bitwise spot Bitcoin ETF (BITB), indicating robust investor interest in Bitcoin.
Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice
Bitwise Spot Bitcoin ETF Surpasses $1.2 Billion in Assets
This influx contributed to a weekly total of $230 million and boosted the fund’s asset management scale to approximately $1.2 billion.
The Bitwise spot Bitcoin ETF now joins an elite group of five US-based Bitcoin funds with assets exceeding $1 billion. Notably, Grayscale Bitcoin Trust leads the pack with $20.27 billion, trailed by BlackRock’s iShares Bitcoin Trust at $3.31 billion and Fidelity’s Wise Origin Bitcoin Trust at $2.75 billion.
Chief Investment Officer Matt Hougan expressed surprise at the ETF’s rapid growth, surpassing initial expectations. However, he cautioned that sustaining such growth economically might pose challenges, projecting a timeline of 18 months for continued expansion.
Challenges Ahead as Bitwise ETF Anticipates Continued Expansion
Ranked fourth in market capitalization, Bitwise‘s success is attributed in part to its modest 0.2% fee structure, though adjustments may occur with increased transaction volume.
Anticipating continued growth, Bitwise credits institutional interest and demand for driving future expansion. Yet, achieving this milestone wasn’t without effort; the company engaged in over 20,000 meetings with financial advisors last year in anticipation of regulatory approval.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
Native USDC on Aptos Coming Soon to Boost DeFi and P2P Transactions
Press Release
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
