{"id":84420,"date":"2024-07-20T04:42:58","date_gmt":"2024-07-20T08:42:58","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84420"},"modified":"2024-07-20T04:43:43","modified_gmt":"2024-07-20T08:43:43","slug":"bitwise-ceo-reveals-large-us-bank-buys-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitwise-ceo-reveals-large-us-bank-buys-bitcoin-etf\/","title":{"rendered":"Bitwise CEO Reveals Large US Bank Buys Bitcoin ETF"},"content":{"rendered":"\n

Bitwise CEO Hunter Horsley disclosed that\u00a0hundreds of wealth\u00a0management branches of a major\u00a0US bank invested in Bitwise and Bitcoin ETFs<\/a>.<\/p>\n\n\n\n

\"Bitwise<\/figure>\n\n\n\n

Hunter Horsley, CEO of Bitwise Invest, has disclosed that a major bank in the United States is making substantial investments in the Bitwise spot Bitcoin ETF and other crypto ETFs.<\/p>\n\n\n\n

Spot Bitcoin ETFs are experiencing mainstream adoption, and experts anticipate that sovereign wealth funds, pension funds, and endowments will accumulate them at a later date due to their long due diligence cycles.<\/p>\n\n\n\n

Jane Street Group and Boothbay Fund Management have the largest holding in Bitwise ETF (BITB)<\/a>.<\/p>\n\n\n\n

Bitwise CEO Points To Large Bitcoin ETF Investing<\/h2>\n\n\n\n

Bitwise Invest's CEO, Hunter Horsley, revealed on the social media platform X that a major U.S.-based bank has invested in Bitwise ETFs through hundreds of wealth management branches.<\/p>\n\n\n\n

As per a report, this figure represents 20% of the bank's wealth management branches.<\/p>\n\n\n\n

He further states that Bitcoin and other crypto ETFs are progressively becoming more mainstream as a result of the purchase of BTC and other crypto ETFs by a significant number of TradFi.<\/p>\n\n\n\n

According to Bitwise\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the company provides seven exchange-traded funds, with BITB holding 40,499.93 BTC in value at $2.71 billion.<\/p>\n\n\n\n

\n

\u201cFrom a report I got today \u2013 There\u2019s a large bank in the US where 20% of all their wealth management branches (several hundred), own a Bitwise ETF,\u201d said Horsley.<\/p>\n<\/blockquote>\n\n\n\n

More Adoption After Spot Ethereum ETF Launch<\/h2>\n\n\n\n

After the recent consecutive inflow amid positive sentiment in the crypto market, BITB net inflow has surpassed $2.20 billion.<\/p>\n\n\n\n

There was also a $44.6 million inflow into the spot Bitcoin ETF on Friday.<\/p>\n\n\n\n

Following the launch of the spot Ethereum ETF, Bitwise CEO Horsley and CIO Matt Hougan are more optimistic about the allocations to ETFs.<\/p>\n\n\n\n

Hougan anticipates a major rise in the price of Ethereum to $5,000, as the demand for Ethereum is similar to that of Bitcoin ETFs.<\/p>\n\n\n\n

Ether ETF<\/a> trading is likely to begin early next week.<\/p>\n\n\n\n

Additionally, there are disputes regarding whether the launch is a “sell the news” event.<\/p>\n\n\n\n

Bitcoin (BTC) price increased by over 5% following the expiration of the options, and it is currently trading at $66,616.<\/p>\n\n\n\n

The 24-hour low and high are $63,416 and $67,442, respectively.<\/p>\n\n\n\n

Furthermore, the trading volume has increased by 35% in the last 24 hours, implying a surge in interest among traders.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitwise CEO Hunter Horsley disclosed that\u00a0hundreds of wealth\u00a0management branches of a major\u00a0US bank invested in Bitwise and Bitcoin ETFs. Hunter Horsley, CEO of Bitwise Invest, has disclosed that a major bank in the United States is making substantial investments in the Bitwise spot Bitcoin ETF and other crypto ETFs. Spot Bitcoin ETFs are experiencing mainstream adoption, […]<\/p>\n","protected":false},"author":56,"featured_media":84422,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1613,17080],"class_list":["post-84420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-etf","tag-bitwise-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/Bitwise-CEO-Reveals-Large-US-Bank-Buys-Bitcoin-ETF.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84420"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/84422"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}