Major U.S. Bank Invests Heavily in Bitwise Bitcoin ETF

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.

READ MORE:

ARK Invest Report Highlights Bitcoin’s Resilience Amid Market Challenges

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.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.