Wealth management firms to boost Bitcoin ETF holdings – Bitwise CEO
The forecast mirrors the growing demand for ETFs, as evidenced by recent positive inflows in the U.S. Bitcoin ETF market.
Bitwise CEO Hunter Horsley has predicted that wealth management firms will increase their Bitcoin exchange-traded funds (ETFs) in terms of holdings. The prediction comes at a time when Bitcoin ETFs are expected to gain even more traction after the halving.
Horsley’s prediction aligns with the broader market belief that there is increasing demand for ETFs, given that Bitcoin BTC investments in the United States exchange-traded funds (ETFs) market recorded a net positive inflow right before the Bitcoin halving day following five consecutive days of drain.
BlackRock’s iShares Bitcoin Trust (IBIT) is closing the gap with Grayscale’s, standing just $2 billion shy. This positions BlackRock to potentially surpass Grayscale as the world’s largest Bitcoin fund. Grayscale’s Bitcoin Trust (GBTC) experienced a 68-day period of value decline, shedding nearly $16 billion and reducing its assets to $19.4 billion.
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Author: Amaka Nwaokocha
