NEW: Wealth Firms to Increase Bitcoin ETF Holdings, Says Bitwise CEO

Hunter Horsley, CEO of Bitwise, has forecasted a notable surge in Bitcoin exchange-traded funds (ETFs) held by wealth management firms. This comes as Bitcoin ETFs are gaining momentum, particularly with the upcoming halving event which is expected to bolster their appeal. The U.S. has witnessed a positive trend in Bitcoin investments within ETFs, showcasing a net inflow right before this critical halving day after a previous five-day downturn.

The market dynamics indicate a shift, with BlackRock’s iShares Bitcoin Trust (IBIT) nearing the scale of Grayscale’s fund, which has seen a substantial reduction in assets after a 68-day downward trend. Despite Grayscale’s early dominance, its position is weakening as firms like Fidelity and BlackRock capture significant market shares, introducing new liquidity into the system. Horsley also highlighted the discreet yet impactful adoption of Bitcoin ETFs by investment advisors and family offices, suggesting a deeper, more strategic evaluation of Bitcoin’s potential within the financial sector.


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