Bitwise’s AUM exceeds $500m: institutions increasingly interested in crypto

Bitwise’s AUM exceeds $500m: institutions increasingly interested in crypto
Hunter Horsley, CEO of Bitwise: ‚The speed with which professional investors are moving into crypto is remarkable‘


Bitwise’s AUM exceeds $500m: institutions increasingly interested in crypto NEWS

Bitwise Asset Management, a leading crypto fund manager, reached a major milestone in Q4 2020: fund inflows to its products reached new records, driven by increased institutional demand for digital assets.

According to a press release on Monday, the firm’s assets under management (AUM) exceeded $500 million. This is a considerable increase from $100m of AUM on 28 October 2020.

The press release reads:

„Bitwise experienced record inflows of funds in the fourth quarter of 2020, exceeding the total of what was raised in 2018 and 2019 combined.“
Most of the new demand comes from professional investors, such as financial advisors, hedge funds, corporations and others.

The Bitwise 10 Crypto Index Fund, which provides broad exposure to major digital assets, is by far the most popular product, with more than $400 million under management. The fund holds Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and seven other cryptocurrencies.

Bitwise says that demand for its funds with a strong focus on Bitcoin and Ethereum has increased since the fourth quarter.

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Hunter Horsley, co-founder and CEO of Bitwise, said:

„Right now, the speed at which professional investors are moving into cryptos is remarkable.“

Before the New Year arrived, Bitwise announced that it had liquidated its exposure to XRP in response to the lawsuit filed against Ripple Labs by the US Securities and Exchange Commission. Beyond the XRP affair, the crypto market appears poised to expand as more institutional investors enter the market.

David Lawant, research analyst at Bitwise, recently told Cointelegraph that the „career risk“ once associated with cryptocurrencies is disappearing; in other words, institutions are no longer afraid to enter the sector. Bitcoin’s growing appeal as a safe haven asset that can offset the so-called „great monetary inflation“ has become a key catalyst for adoption, he said.