Bitwise Announces Massive Adoption of Spot Bitcoin ETF by Leading Investment Firm!

  • Bitwise Bitcoin ETF (BITB) has recently achieved a significant milestone, elevating the competition among ETFs to a new level.
  • Horsley, joining X, announced that BITB has been adopted by a leading wealth management firm managing over $100 billion in assets under management (AUM).
  • Horsley further emphasized the adoption due to BITB’s ability to offer narrow bid-ask spreads and seamless trading.

Bitwise has announced that Bitwise Bitcoin ETF has been adopted by an investment management firm with over $100 billion in assets.

Bitwise Bitcoin ETF Gains More Recognition

Bitcoin-BTC

Bitwise Bitcoin ETF (BITB) has recently reached a significant milestone, taking the competition among ETFs to a new level. Bitwise’s BITB is gaining increased adoption, strengthening its position against leading players like Grayscale’s GBTC and BlackRock’s IBIT. Additionally, Bitwise CEO Hunter Horsley has demonstrated complete transparency regarding partnerships secured through Bitwise Bitcoin ETF.

Bitwise CEO Horsley, joining X, announced that BITB has been adopted by a leading wealth management firm managing over $100 billion in assets under management (AUM). Horsley also expressed his excitement about the latest development. He highlighted the quiet approach of investment firms working to provide their advisors and clients with access to BITB. He stated, “Firms are quietly working to provide access to their advisors and clients. We love working with them.”

Furthermore, Bitwise CEO emphasized that Bitcoin ETFs truly “changed the game.” In a recent interview with the news portal Axios, the CEO explained why investors choose them. Horsley stated, “Investors are choosing us because they want to work with experts.” He also highlighted that BITB is the lowest-cost Bitcoin ETF with over $1 billion in assets.

Additionally, Horsley further emphasized the adoption due to BITB’s ability to offer narrow bid-ask spreads and seamless trading. The Bitwise CEO also highlighted that BITB is the only Spot Bitcoin ETF with a publicly disclosed wallet address, allowing transparent tracking of assets, without any additional cost.

Bitwise and Grayscale Seek Approval for ETF Options

The US Securities and Exchange Commission (SEC) is currently soliciting public feedback on a potential rule change that would allow the listing and trading of Spot Bitcoin ETFs alongside futures on exchanges. NYSE’s move comes in response to increased demand for options trading on trusts such as Bitwise’s BITB and Grayscale’s GBTC, which directly holds Bitcoin.

If the proposal is approved, it would be a significant milestone in the integration of crypto products into financial markets. ETFs would offer market participants new avenues for hedging, earning income, and speculating on Bitcoin price movements. The proposed change suggests that Bitcoin ETF options could be allowed to trade similarly to other commodity-based ETFs.

This would involve regulatory considerations ranging from listing mechanisms, expiration dates, strike prices, price volatility, trading halts, and resumption protocols to customer account maintenance requirements. Additionally, the emergence of BTC ETF futures alongside traditional financial products underscores the growing interest among supporters.

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Sheila Belsonhttps://en.coinotag.com
Sheila Belson is a 20-year-old financial content editor who ventured into the realm of cryptocurrencies in 2023. Enthralled by the innovative world of non-fungible tokens (NFTs), she harbours a profound affection for Ethereum. With a sharp eye for detail, Sheila skillfully navigates the dynamic crypto landscape, continuously seeking to enrich her understanding and share her passion through engaging and insightful content.
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