Bitwise Investment Management reports significant investment inflows and unveils plans for launching a crypto index ETF.
Inflows to BITB and Interest in Digital Assets
Bitwise Investment Management recorded $26 million in inflows and $82 million in trading volume within 3.5 hours, indicating strong investor interest in digital assets. CEO Hunter Horsley highlighted the significant demand for Bitcoin from investors.
Bitwise's New Strategy in Europe
Bitwise has revised its European operations, rebranding its XRP ETF to Bitwise Physical XRP ETP. This move aims to enhance its appeal to institutional investors and is traded on Germany’s Deutsche Börse XETRA.
Bitwise's Plans and Prospects
The company has filed for the launch of a 10-Crypto Index ETF, expanding access to both institutional and retail investors. Custody role will be handled by Coinbase, while the fund’s cash custodian responsibilities are assigned to the Bank of New York Mellon.
Bitwise is strengthening its position in the digital asset market, expanding product lines and focusing on institutions. Plans for launching new ETFs underscore the growing interest in cryptocurrencies.
