Bitwise CEO confirms inflows of $370 million for his Bitcoin ETF on debut in four days

Bitwise Bitcoin ETF Trust (BITB) quickly rose to a whopping $370 million in assets under management (AUM) in its first four days of trading.

Hunter Horsley, CEO of Bitwise, shared this milestone on January 18 via social media platform This helped push BITB’s total AUM to a remarkable $370 million in just four days.

Bloomberg ETF analyst James Seyffart suggested that some Bitwise inflows came from investors divesting their Grayscale Bitcoin Trust ETF (GBTC) shares for rival ETFs.

Meanwhile, Nate Geraci, president of ETF Store, noted that Bitwise’s AUM places it in the top 25 of 540 ETFs launched in 2023 by AUM.

Apollo’s ETF tracker shows BITB’s AUM at $290 million as of this writing, which may reflect a decline in holdings but, more likely, a delay in data reporting. Regardless, the Bitwise ETF maintains a strong position in the top three among recently launched Bitcoin spot ETFs. It follows behind BlackRock’s iShares Bitcoin Trust (IBIT), which boasts AUM of $707 million, and Fidelity’s Wise Origin Bitcoin Trust (FBTC) with $523 million in AUM.

“Incredibly impressive number”

Bitwise’s impressive numbers reflect the significant interest that its newly launched Bitcoin spot ETFs generated within a week of their introduction.

CryptoSlate Insight reported that trading volume on new spot Bitcoin ETF products has reached $10 billion in the past three days. Another report also found that Bitcoin is now the second-largest commodity in the United States by assets under management, ahead of the “broadly diversified” asset class and precious metal, silver.

Speaking about these accomplishments, Ophelia Snyder, co-founder of cryptocurrency-focused investment firm 21 Shares, said:

“A ridiculously impressive number given that most institutions **still** don’t have access to these products and most advisors can’t actively advise their clients on the matter. ETFs are in their infancy.”

In particular, Bitwise predicted a revolutionary trajectory for BTC ETFs, anticipating that they would achieve unprecedented success upon their launch. The firm based its forecast on the expected substantial capital inflow from retail and institutional investors.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة