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.
According to data shared by Wu Blockchain, over $5.8 billion in crypto options expired today, with Ethereum leading the action.
A new report from the International Monetary Fund (IMF) suggests that El Salvador’s recent Bitcoin accumulation may not stem from ongoing purchases, but rather from a reshuffling of assets across government-controlled wallets.
Traders are rapidly shifting their focus to Ethereum and altcoins after Bitcoin’s recent all-time high triggered widespread retail FOMO.
BSTR Holdings Inc. is set to become the fourth-largest public holder of Bitcoin, announcing it will launch with 30,021 BTC on its balance sheet as part of its public debut.