Bitwise surpasses USD500m in AUM as crypto demand surges amongst professional investors
Bitwise Asset Management, a provider of crypto index funds, recently surpassed USD500 million in assets under management (AUM), after reporting USD100 million in AUM on 28 October, 2020.
The Bitwise 10 Crypto Index Fund (BITW), which seeks to track an index of the 10 largest cryptoassets – including bitcoin, ether, and litecoin – has seen the strongest demand, recently crossing over USD400 million in AUM.
The Bitwise Bitcoin Fund and Bitwise Ethereum Fund – which provide low-cost, professionally managed exposure to bitcoin and ether, respectively – have seen increased demand as well.
"The speed at which professional investors are moving into crypto right now is remarkable," says 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 specialises in educating and supporting professional investors, with a senior team and staff from firms like BlackRock, Fidelity, Eaton Vance, Wealthfront, Facebook, JP Morgan, and iCapital.