Bitwise Hits Major Milestone Amid Growing Bitcoin & Crypto Focus

Rupam Roy
November 16, 2024
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Bitwise Asset Management Bitcoin US Spot Bitcoin ETF AUM

Highlights

  • Bitwise Asset Management surpasses $10 billion in client assets under management (AUM).
  • The firm's increasing focus on Bitcoin and the crypto market has helped it hit this new milestone.
  • The development comes as big banks and other players are shifting their focus towards Bitcoin ETF.

Bitwise Asset Management has achieved a significant milestone, surpassing $10 billion in client assets under management (AUM) throughout its diverse investment offerings. This achievement of the leading asset manager reflects the soaring interest in Bitcoin and the broader crypto market. Besides, the firm’s focus on providing innovative crypto investment solutions also positions it as a key player in a rapidly evolving financial landscape.

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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.

Besides, he highlighted that the entire AUM is allocated to Bitcoin and other crypto opportunities, emphasizing the company’s commitment to the sector. He also said that Bitwise offers over 30 tailored investment solutions, including ETFs, index funds, hedge funds, and staking options. Notably, the asset manager filed for multi-crypto ETF recently, amid soaring market optimism.

Meanwhile, according to Horsley, these solutions allow investors to explore various crypto opportunities with ease. He also acknowledged the firm’s growing team of 95 professionals, striving to build a long-term partnership with investors and maintain the ethical foundation of the crypto ecosystem.

Interestingly, a user commented on the rapid growth of Bitwise’s AUM, recalling a recent conversation with a Bitwise executive. The user noted that the firm’s assets were at $5 billion just weeks ago. Horsley confirmed this, reflecting the company’s accelerating growth amid increasing crypto adoption.

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Bitcoin ETF Inflow Hits Record Amid Soaring Institutional Interest

The asset manager’s success underscores the growing confidence in digital assets as an investment class. With the crypto market rebounding and institutional interest increasing, asset managers like Bitwise are becoming vital conduits for mainstream adoption. Besides, Bitwise also acquired Ethereum staking service attestant in a recent move, indicating the firm’s growing focus on the crypto market.

Although US Spot Bitcoin noted a total outflow of $770 million over the last two days, it hit a record high earlier this week. Last week, the Bitcoin ETF recorded a single-day inflow of $1.37 billion on November 7, Farside Investors data showed. Besides, this week on November 11, the investment instrument noted an inflow of $1.11 billion.

This soaring influx after the US election and Donald Trump’s win reflects the growing market interest in the crypto. Besides, big banks like Goldman Sachs have also revealed investing in US Spot Bitcoin ETF, which has further fueled market confidence.

As of writing, BTC price was up over 2% and exchanged hands at $91,400, with its trading volume falling 16% to $71 billion. The crypto has touched a 24-high of $91,868.74, while hitting its ATH of $93,434 this week on November 13.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.