Bitwise Asset Management Now Hold Over $100 million In Cryptocurrency

  • The amount is a record for the company, and has come to play after rising demand from hedge funds and financial advisors

  • The main recipient of these increased capital inflows has been the Bitwise 10 Crypto Index Fund, which tracks bitcoin, ethereum, litecoin and a few other top cryptocurrencies.

  • "We're reaping the rewards of two years of building infrastructure," Bitwise Chief Investment Officer Matt Hougan, said. "We are now hitting multi-year highs." 

  • The sharp increase in Bitwise's assets under their management has happened alongside an increase in institutional interest in Bitcoin.

  • Several famous corporations, including MicroStrategy and Square, have recently disclosed their invest,ents in bitcoin, providing a strong vote of confidence in bitcoin's long-term value as a safe store against inflation.

  • "Many who were previously cautious now think it is it's time to re-evaluate," Bitwise CEO Hunter Horsley said.

  • Bitwise has failed to gain approval from the U.S. Securities and Exchange Commission for a bitcoin-focused exchange-traded fund.

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