Wealth Manager Will Raise BTC ETF Investment! – Bitwise CEO


"I hope that's the case, don't talk nonsense."

Shortly after the Bitcoin (BTC) halving event that took place last Saturday, Bitwise Chief Executive Officer (CEO) Hunter Horsley expected wealth management organizations to increase their BTC exchange traded fund (ETF) holdings.

The prediction comes amid broader belief that increased demand for ETFs is likely as BTC investments in United States (US) ETFs have seen positive inflows.

Pleased to note that BlackRock was able to overtake Grayscale as the world's largest BTC fund following Bitcoin Trust (GBTC)'s 68-day decline in value of over $16 billion which brought its assets down to $19.4 billion.

While the iShares Bitcoin Trust Fund (IBIT) saw continued asset growth where its total assets reached $17.3 billion, compared to GBTC which faced total outflows of $1.6 billion since January 2024.

While Grayscale's dominance of the BTC ETF market is waning, BlackRock and Fidelity's rapid net inflows of $37.3 million and $18.7 million have eased some of the market's liquidity concerns.

It is well known ETF analyst Bloomberg Intelligence revealed that the spot BTC ETF BlackRock as of the halving that happened last Saturday has managed to record 69 days of inflows without a single day of outflows.

In addition to describing the use of BTC ETFs by registered investment advisors (RIAs) and multi-family offices as quiet but important, Horsley also said that large financial institutions have quietly been conducting a comprehensive examination of the BTC market.