Hunter Horsley, CEO of Bitwise Invest, has announced that a major U.S. bank is making a substantial commitment to Bitwise's spot Bitcoin ETF, along with other crypto-focused ETFs.
According to Horsley, 20% of the bank’s wealth management branches are now invested in these ETFs, signaling growing mainstream acceptance of cryptocurrencies.
Horsley shared on social media that a significant segment of the bank’s wealth management divisions is backing Bitwise ETFs, reflecting a shift towards wider institutional adoption of digital assets. The Bitwise ETF (BITB) now holds around 40,500 BTC, valued at approximately $2.71 billion.
The BITB ETF has recently attracted over $2.2 billion in inflows, with a $44.6 million addition just last Friday. The enthusiasm for crypto assets is expected to intensify with the upcoming launch of spot Ethereum ETFs.
Bitwise’s CIO, Matt Hougan, predicts Ethereum could see a price surge to $5,000, mirroring Bitcoin’s earlier performance.
At the time of writing Bitcoin’s price has increased by over 3.7% recently, trading at $66,600.
Commerzbank, one of Germany’s largest financial institutions, is making a significant move into cryptocurrency by offering Bitcoin and Ethereum trading services to its corporate clients.
For the first time in 4 years, Fed cut the rates for the first time in 4 years, which lead to a notable surge in cryptocurrency prices.
Donald Trump, the Republican presidential nominee, made headlines by becoming the first former U.S. president to make a Bitcoin transaction.
Under President Nayib Bukele, El Salvador remains committed to its daily Bitcoin acquisition strategy, currently holding assets worth approximately $354.6 million.