Hunter Horsley, the CEO of Bitwise, has recently highlighted a surge in interest regarding Bitcoin ETFs. In an exciting post on X, he shared that 24 out of 25 financial advisors received inquiries about cryptocurrency from their clients over the past year, indicating a significant shift towards investing in crypto.
In his post, Horsley celebrated that an unnamed wealth management firm in California has successfully onboarded 63 clients into BITB, Bitwise’s spot Bitcoin ETF, demonstrating impressive growth within less than a year. The firm manages $300 million in assets, and Horsley expressed his delight, sharing, “Makes me so happy.” He emphasized the role of wealth managers in helping millions of investors access this unique investment opportunity, stating, “It’s a privilege to support them.”
Looking ahead, Horsley anticipates that more investors will flock to spot Bitcoin ETFs. Currently, Bitwise’s BITB boasts $4.08 billion in assets under management (AUM). Notably, Bitwise’s ETF contributes 3.65% to the total AUM of Bitcoin ETFs and is recognized as the fastest-growing ETF with a 2.14% weekly increase in Bitcoin reserves.
Moreover, Bitwise’s latest annual survey revealed that 96% of U.S. clients expressed interest in crypto. As of January 11, 2024, Bitcoin spot ETFs have accumulated more than $112 billion in assets, marking the most extensive collective Bitcoin reserve to date. The IShares Bitcoin Trust ETF (IBIT) stands out as the eighth largest ETF by total value locked across all investment segments.
Horsley pointed out the astounding statistic from their research, saying, “96% of all advisors received a question from clients about crypto last year. Ninety-six percent. That’s the highest-ever reading from advisors in our 7 years surveying them.” Bitwise is excited to unveil the complete survey results soon, emphasizing the growing opportunities within the crypto space.
In a time where curiosity about cryptocurrency is soaring, it is evident that the landscape for Bitcoin ETFs is thriving. As more wealth managers step up to guide investors, the potential for participation in this arena only grows, making it an exciting period for those interested in cryptocurrency and investment opportunities.