BTC

Bitwise Bitcoin ETF Enters $30B Advisor Network Amid Record Inflow

by BSCN

February 20, 2024

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This move signifies the increasing integration of cryptocurrencies into traditional investment portfolios, boosting their credibility and acceptance.

Bitwise CEO Hunter Horsely has announced that the Bitwise Bitcoin ETF is now available for recommendation by Registered Investment Advisors (RIAs) within a vast $30 billion investment advisor network, according to a report by CryptoSlate.

As a result of this development, more institutional investors can access cryptocurrency investment options through trusted advisors, further enhancing Bitcoin's credibility.

Bitcoin ETFs are reportedly gaining popularity as more investors seek regulated investment products to gain exposure to digital assets. 

Bitwise Bitcoin ETF Recent Growth

With a staggering $232.1 million inflow this past week, Bitwise has gained a lot of traction in the ETF market. Chief Investment Officer Matt Hougan expressed amazement at the rapid growth but recommended caution when maintaining it. 

Hougan predicts another 18 months of growth for the Bitwise Bitcoin ETF, highlighting the dynamic nature of the evolving cryptocurrency market.

According to HeyApollo data, Bitwise's ETF currently ranks fourth among recent Bitcoin ETF launches, trailing BlackRock's iShares Bitcoin Trust (IBIT), Fidelity's Wise Origin Bitcoin Trust (FBTC), and Ark and 21 Shares ETFs.

As a result of its transparency, the fund has attracted substantial Bitcoin contributions and accolades from the crypto community.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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