Bitwise Reports Strong Q3 Performance, Signaling Potential ‘Crypto Spring’
- Bitwise’s large-cap crypto index gained 46.4% in Q3.
- US spot Bitcoin ETF inflows reached $6 billion, reversing year-to-date net flows to positive.
- The value of tokenized equities increased by 65.5% to nearly $3.2 billion.
- Open interest on decentralized perpetual futures hit a record near $26 billion.
- Bitcoin (BTC) rose by 42.3%, while Ether (ETH) and Solana (SOL) increased by 69.1% and 59.2%, respectively.
- Despite the gains, the number of public companies holding Bitcoin decreased by almost 6%.
Analysts are noting a potential recovery in the crypto market, with indicators suggesting a new Bitcoin bull market is underway, supported by significant ETF flows and rising onchain activity.
With a reported gain of 46.4%, Bitwise’s large-cap crypto index reflects a significant rebound in the cryptocurrency market this quarter.(Source)
