CryptoindexfundmanagerBitwisehassurpassed$5billioninassetsundermanagement(AUM)acrossitssuiteofbetaandalphainvestmentproducts,thankstoexistingandnewinvestors.
Accordingtothecompany,thisrepresentsasurgeof400%thisyear,followingLuisBerruga’sappointmentasastrategicadvisortothecompany.
Thisyearalone,thecompanyhasreportedlyrecordedsignificantmilestonesthathavehelpedbuoyitsgrowth.
Bitwiseexperiencedexponentialgrowth,thankstonewproducts
ForBitwise,2024hasbeengoodsofar,whichhasseenthecompanyrecordgrowth.Forexample,BitwiseinJanuarylauncheditsfirstspotBitcoinETP,whichsubsequentlygrewtobeoneofthe25fastest-growingETPsinthehistoryofitsover$2.7billionassets.
Duringthesecondhalfoftheyear,thecompanylauncheditssecondspotEthereumETP.AccordingtodetailsfromBitwise,thespotEthereumETPwhichwaslaunchedinJulyattractedmorethan$300millionininflowsduringitsfirstthreemonths.
InAugust,thecompanyacquiredETCGroup,whichisaLondon-basedissuerofthelargestphysicalBitcoinETPinEurope.
Resultantly,Bitwisesuitenowincludestheworld’slargestcryptoindexfund,aleadingthematicequityETF,leadingtospotcryptoETPs,“multi-strategyalphasolutions,separatelymanagedaccounts,andprivatefunds.”
“Thisyear,investorshavetrustedBitwisetomanagebillionsofdollarsofinvestmentsinBitcoinandcrypto.”
BitwiseCEOHunterHorsley.
“We’regratefulforthetrustthey’veplacedinusaswecontinuetobuildBitwisetobeabest-in-classinstitutiontheycanrelyontoaccessthisspace,”addedthechiefexecutiveinastatement.
Beginningofthismonth,BitwisefiledforaspotXRPETFexchangeinDelaware.
Bitwiserecentlysurpassed$5Binassets.Wecouldn’tbemoregratefultoourclientsandfriends.
FromalloftheteamhereatBitwise,thankyou.
(Fullpressreleasebelow.)pic.twitter.com/Iujj0NzjLM
—Bitwise(@BitwiseInvest)October15,2024
The$5bnmarkcoincideswiththeappointmentofastrategicadvisor
Commentingontheannouncement,somecryptoenthusiastsdescribedthis“great”newswhileothersprojecteditwouldbeeasytoreach“$20billioninAUMby2026.”
ThedevelopmentcomeswhenthecompanyannouncedtheappointmentofalongtimeETFindustryleaderBerruga.CommentingonBerruga’sappointment,Horselysaidthiswasawelcomedevelopmentandaprivilegetothecompany.
“Luishasthenearlyunparalleledexperienceofpioneeringthethematicequitycategoryandscalinganew,enduringassetmanageroverthelastdecade,”hesaid.
BerrugaisthefounderandmanagingpartnerofaboutiqueinvestmentfirmLBSCapitalandwasthechiefexecutiveofETFproviderGlobalXduringaperiodinwhichthefirmincreaseditsassetstoalmost$40billionfrom$8billion,becomingaglobalETFpowerhouse.
Commentingonhisappointment,Berrugasaid:“I’mthrilledtosupportHunterandtheexecutiveteamastheycontinuetoscale,guidingBitwisetobecomeoneofthetopinstitutionalassetmanagersforthenext100yearsoftheinternetage.”
AtBitwise,Berrugawilladviseonstrategicpartnerships,globaldistribution,andmergersandacquisitions.
cryptopolitan.com