Bitwise Asset Management has reached a new milestone, crossing $10 billion in client assets under management (AUM) across its investment suite. This achievement of the leading asset manager reflects the surging interest in Bitcoin and the broader crypto market. Notably, the firm’s focus on providing innovative crypto investment solutions positions it as a key player in a rapidly evolving financial landscape.

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.

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 4% and exchanged hands at $91.156, 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.

The post Bitwise Hits New Milestone Amid Growing Focus Towards Bitcoin & Crypto appeared first on CoinGape.

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Filed under: News - @ November 16, 2024 8:26 am