Bitwise’s Bitcoin ETF grows to $4.08 billion AUM, becoming the fifth-largest product among leading crypto ETFs.
96% of advisors report rising client interest in crypto, according to Bitwise's annual survey of wealth managers.
A wealth firm in California added 63 clients to Bitwise’s ETF, managing $300 million in assets, and highlighting rapid adoption.
Bitwise Asset Management’s spot Bitcoin ETF (BITB) has experienced remarkable growth, reaching $4.08 billion in assets under management (AUM). This milestone places it as the fifth-largest Bitcoin ETF in the market, following offerings from BlackRock, Grayscale, Fidelity, and ARK. The BITB fund accounts for 3.65% of the total AUM in the Bitcoin ETF sector.
BITB stands out as the fastest-growing product in the sample in terms of week-over-week growth, with Bitcoin reserves up 2.14% this week at the top tier. Such stock market performance is indicative of rising interest in Bitcoin investment products, the fund being the latest to join the stock market with an express entry.
California Wealth Firm Joins the Trend
A California-based wealth management firm contributed significantly to BITB's adoption. Within less than a year, the firm onboarded 63 clients into the ETF. These clients collectively manage $300 million in assets, highlighting the product’s appeal among traditional financial advisors and their clientele.
Bitwise CEO Hunter Horsley shared this milestone with his audience on X, emphasizing the privilege of introducing traditional finance (TradFi) investors to Bitcoin-based products. Horsley anticipates millions more investors entering the market through spot Bitcoin ETFs in the coming years.
Advisor Survey Shows Strong Crypto Interest
The survey conducted by Bitwise showed that the cryptocurrency market had a great deal of attention among financial advisors in the United States. Self-generated questions included the following: Based on the survey, 96 % of advisors said that clients had asked them about investing in cryptocurrencies over the last year. This shows the highest engagement level recorded on the particular survey since the survey was begun seven years ago.
These results are consistent with the expansion of the Bitcoin ETF market as a whole. The sector has grown over $112 billion in AUM since Bitcoin spot ETFs began trading on January 11, 2024. These 21 funds now own the largest amount of Bitcoin as has ever been known in the market.
The trends described above are indicative of a new trend in financial investments. BITB as a successful example of Bitwise proves that other traditional firms are opening new branches and redesigning their solutions and services according to the desire of their clients to invest in digital assets.
