Bitwise Invest CEO Hunter Horsley disclosed that a major U.S. bank is significantly investing in Bitwise’s Bitcoin ETFs. Hundreds of the bank’s wealth management branches, making up 20% of its total, have purchased these ETFs.
This development marks a significant milestone in the mainstream adoption of Bitcoin and crypto ETFs. Bitwise’s CEO noted that traditional finance entities are increasingly buying BTC and other crypto ETFs, indicating growing acceptance.
Bitwise’s Bitcoin ETF currently holds 40,499.93 BTC valued at $2.71 billion. The recent launch of a spot Ethereum ETF has further boosted interest, with net inflows surpassing $2.20 billion and a notable $44.6 million inflow on a single day.
Following the Ethereum ETF launch, Bitwise’s CEO and CIO are optimistic about further allocations, expecting a potential Ethereum price rally to $5,000. The broader implications suggest a strategic long-term shift towards integrating crypto assets into traditional wealth management portfolios.
