According to Odaily, Bitwise CEO Hunter Horsley announced on platform X that the company's Bitcoin Spot ETF (BITB) saw an inflow of approximately $40 million on Monday. This significant inflow indicates a strong interest in the Bitcoin Spot ETF from investors.
The Bitcoin Spot ETF, known as BITB, is a financial product offered by Bitwise, a leading name in the cryptocurrency industry. The ETF allows investors to gain exposure to Bitcoin without the need to directly own the cryptocurrency.
Hunter Horsley's announcement underscores the growing popularity of such financial products in the cryptocurrency market. The substantial inflow into BITB is a testament to the increasing confidence of investors in Bitcoin and related financial products. This development is a positive sign for the cryptocurrency market, indicating a robust demand for Bitcoin-based financial products.