Bitwise Bitcoin Exchange-Traded Fund Receives Significant Investment from a Major U.S. Bank

The chief executive officer of Bitwise Invest, Hunter Horsley, has made the announcement that a large financial institution in the United States has made a significant commitment to Bitwise’s spot Bitcoin exchange-traded fund (ETF), in addition to other crypto-focused ETFs.

According to Horsley, twenty percent of the bank’s wealth management branches are now investment in these exchange-traded funds (ETFs), which indicates that the mainstream is becoming more accepting of cryptocurrency.

The fact that nearly all of the bank’s wealth management departments are supporting Bitwise exchange-traded funds (ETFs) is something that Horsley revealed on social media. This reflects a move toward the larger institutional acceptance of digital assets. The Bitwise Exchange-Traded Fund (BITB) now has roughly 40,500 Bitcoins in value, which is equivalent to approximately $2.71 billion.

Over the last several days, the BITB ETF has been successful in attracting inflows of over $2.2 billion, with a $44.6 million increase only last Friday. The forthcoming introduction of spot Ethereum exchange-traded funds (ETFs) is anticipated to increase up the level of excitement around crypto assets.

When compared to Bitcoin’s previous performance, the Chief Information Officer of Bitwise, Matt Hougan, forecasts that the price of Ethereum might skyrocket to $5,000.

The price of Bitcoin has lately grown by more than 3.7%, and it is now trading at $66,600 at the time of this writing as well.

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