Bitwise Investment Management (BITB) has continued its impressive performance with $26,000,000 inflows and $82 million in volume in just 3.5 hours of trading. This comes off the back of a successful day of trades on Nov. 28, where Bitwise led at $48.05 million in inflows. CEO Hunter Horsley noted that the strong demand for digital assets is evident in the bullish run of bitcoin.
As part of its growth strategy, Bitwise has filed to launch a 10-Crypto index exchange-traded fund (ETF) that will provide exposure to the Bitwise 10 Large Cap Crypto Index. This ETF, once approved, will bridge the gap between mainstream and digital asset markets, attracting interest from both institutional and retail investors. Coinbase Custody will store the assets, while the Bank of New York Mellon will act as the fund’s cash custodian and administrator.
Bitwise is also restructuring its European operations, aiming to appeal more to institutional investors. The company has rebranded its European XRP ETF to Bitwise Physical XRP ETP, trading on Germany’s Deutsche Börse XETRA under the ticker GXRP. This move is part of Bitwise’s strategic overhaul of its European product lineup to provide regulated exposure to XRP for institutional investors. The product remains backed by physical XRP, leveraging the strong track record and evolving capabilities of the XRP Ledger (XRPL).
Bitwise has a history of supporting innovative crypto investment products, having previously submitted requests for ETFs based on Solana and XRP. The company’s expansion into Europe and the launch of the Bitwise Physical XRP ETP demonstrate its commitment to providing institutional-quality products to investors. With a focus on regulated exposure to digital assets, Bitwise aims to attract significant institutional interest with its array of investment products.
The strong demand for digital assets is evident in Bitwise’s continued success, with significant inflows and volume in just a short period of trading. CEO Hunter Horsley expressed optimism, noting that the interest in bitcoin is just the beginning. With the launch of the 10-Crypto index ETF and the rebranding of its European XRP ETF, Bitwise is positioning itself as a leader in the digital asset investment space, catering to both institutional and retail investors.
Bitwise’s strategic partnerships with Coinbase Custody and the Bank of New York Mellon reinforce its commitment to providing secure and regulated investment options in the digital asset market. By leveraging the proven reliability of the XRP Ledger and other innovative blockchain technologies, Bitwise is poised to attract institutional interest and capitalize on the growing demand for digital assets in the global market.
