In a latest development, Hunter Horsley, the CEO of Bitwise has expressed enthusiasm in an X post about the increasing interest in the company’s spot Bitcoin ETF. Notably, Bitwise’s latest research shows that 24 out of 25 financial advisors received client inquiries about cryptocurrency over the past year, indicating a growing demand for crypto investments.
Hunter Horsley shared on X that an unnamed wealth management firm in California, U.S., has onboarded 63 clients to BITB, Bitwise’s spot Bitcoin ETF. This accomplishment was registered in less than one year, Bitwise CEO Hunter Horsley shared with his 50,000 followers on X.
In total, the client operates $300 million in assets under management (AUM). Horsley adds that he is happy about this achievement and noted that wealth managers will help millions of investors participate in the opportunity of this space. “It’s a privilege to support them.” he added.
Notably, he also expects millions of investors to join spot Bitcoin ETFs. Currently, BITB, the spot Bitcoin ETF by Bitwise, is sitting at $4.08 billion AUM. Bitwise spot Bitcoin ETF is responsible for 3.65% of the aggregated AUM of the BTC ETFs segment. It is also the fastest-growing ETF, with a 2.14% weekly increase in Bitcoin reserves.
Bitwise’s annual survey reveals that 96% of U.S. clients are interested in crypto. As of January 11, 2024, Bitcoin spot ETFs have gathered over $112 billion in assets under management, making them the largest collective Bitcoin reserve ever. The IShares Bitcoin Trust ETF (IBIT) ranks as the eighth largest ETF by total value locked (TVL) across all investing segments.
A total of 96% of all advisors who participated in the survey confirmed that their clients asked about the opportunities unlocked by the crypto sphere at least once in 2024. Bitwise researchers admitted that this is the highest level in the seven years of making such reports. Bitwise shared that it is excited to release the full survey results next week.
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