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Bitwise's Crypto Assets Under Management Rise Fivefold in Just 2 Months
Bitwise, a provider of crypto index funds, said it has now surpassed $500 million in assets under management.
Bitwise Asset Management, a provider of crypto index funds, says its assets under management (AUM) have now passed the $500 million mark – up from $100 million reported in late October.
STORY CONTINUES BELOW
- The company said Monday that its Bitwise Bitcoin Fund and Bitwise Ethereum Fund have seen increased demand in the fourth quarter of 2020 from financial advisers, hedge funds and institutional investors.
- But the Bitwise 10 Crypto Index Fund – aimed at tracking a basket of 10 top crypto assets – saw the strongest demand, recently crossing over $400 million in AUM, the firm said.
- "The speed at which professional investors are moving into crypto right now is remarkable," said Hunter Horsley, co-founder and CEO of Bitwise.
- The period since October has also seen prices across cryptocurrencies rise sharply, helping to boost the AUM total.
- Still, Bitwise said its funds had seen record inflows during Q4 2020, "surpassing the total cumulative inflows of 2018 and 2019 combined."
Read more: Bitwise Liquidates XRP Position in Crypto Index Fund Following SEC Suit Against Ripple
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
