Bitwise CEO Highlights Growing Interest in Bitcoin ETFs, Survey Shows Rising Demand for Crypto
In the latest development, Bitwise CEO Hunter Horsley expressed enthusiasm for the growing interest in the company’s spot Bitcoin ETF in an X post. Notably, new research from Bitwise shows that 24 out of 25 financial advisors have received inquiries from clients about cryptocurrencies in the past year, indicating a growing demand for cryptocurrency investments.
Hunter Horsley revealed on X that an unnamed wealth management firm in California, USA, has attracted 63 clients for Bitwise’s spot Bitcoin ETF BITB. Bitwise CEO Hunter Horsley shared the achievement with his 50,000 followers on X, less than a year later.
The client’s assets under management (AUM) totaled $300 million. Horsley added that he was delighted with the achievement, noting that wealth managers will help millions of investors participate in opportunities in this space. “It’s an honor to support them,” he added.
Notably, he also expects millions of investors to join spot Bitcoin ETFs. Currently, Bitwise’s spot Bitcoin ETF BITB has an AUM of $4.08 billion. Bitwise Spot Bitcoin ETF accounts for 3.65% of the total assets under management in the BTC ETF field. It is also the fastest growing ETF, with Bitcoin reserves increasing by 2.14% on a weekly basis.
Bitwise’s annual survey shows that 96% of U.S. customers are interested in cryptocurrencies. As of January 11, 2024, the Bitcoin Spot ETF has over $112 billion in assets under management, making it the largest collective Bitcoin reserve ever. The IShares Bitcoin Trust ETF (IBIT) ranks as the eighth-largest ETF by total value locked (TVL) across all investment sectors.
A total of 96% of all advisors who participated in the survey confirmed that their clients have inquired at least once about opportunities to unleash in the crypto space in 2024. Bitwise researchers admit that this is the highest level in seven years of producing such reports. Bitwise said it is excited to release the full findings next week.
