Bitwise Asset Management, a leading provider of crypto index funds, became the most recent example of the influx of institutional money into cryptocurrency by announcing today that it recently surpassed $500 million in assets under management (AUM), up $400 million from its previous report of $100 million in AUM on October 28, 2020.
The Bitwise 10 Crypto Index Fund (OTCQX: BITW), which seeks to track an index of the 10 largest cryptoassets—including Bitcoin, Ethereum, and Litecoin—has seen the strongest demand, recently crossing over $400M in AUM.
The Bitwise Bitcoin Fund and Bitwise Ethereum Fund—which provide low-cost, professionally managed exposure to Bitcoin and Ethereum, respectively—have seen increased demand as well.
“The speed at which professional investors are moving into crypto right now is remarkable,” said Hunter Horsley, cofounder and Chief Executive Officer of Bitwise. “While adoption of crypto as an asset class and conviction around its role in portfolios rapidly expands, we continue to urge all investors to consider the risks associated with investing in cryptocurrencies in general and the Bitwise Funds in particular.”
Bitwise saw record inflows into its funds during Q4 2020, surpassing the total cumulative inflows of 2018 and 2019 combined. The increased demand came primarily from Bitwise’s core audience, investment professionals, including financial advisors, hedge funds, corporate balance sheets, and other institutional investors.
Bitwise specializes in educating and supporting professional investors, with a senior team and staff from firms like BlackRock, Fidelity, Eaton Vance, Wealthfront, Facebook, J.P. Morgan, and iCapital. The Bitwise Funds offer ongoing private placements to accredited investors via www.bitwiseinvestments.com.
About Bitwise Asset Management
Bitwise Asset Management is a leading provider of index and beta crypto funds. Based in San Francisco, Bitwise’s team combines expertise in technology with decades of experience in traditional asset management and indexing—coming from firms including Facebook, Google, Wealthfront, BlackRock, Fidelity, Deutsche Bank, IndexIQ, and ETF.com.
Bitwise is backed by leading institutional investors and asset management executives, and is a frequent commentator on crypto in the press. It has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg, The Wall Street Journal, The New York Times, and many other leading publications. The firm is a trusted partner to financial advisors, RIAs, multifamily offices, hedge funds, and other professional investors as they navigate the crypto space.