Banks representing $ 2,000,000,000,000 in assets now offer Bitcoin and Crypto exposure to customers: Bitwise
One of the world’s largest crypto index fund managers offers a unique insight into the current state of crypto adoption.
In a new interview with Real Vision, Bitwise Asset Management CEO Hunter Horsley breaks down the types of investors and trends that the company is witnessing when Bitcoin plows through a fresh bear market phase.
In addition to working with thousands of self-governing individuals with high net worth, tens of thousands of public shareholders in its listed products, around 1,000 independent consulting firms and a few dozen institutions, Horsley says private banks and broker dealers are beginning to plunge into the digital asset market.
“Later, [there’s been] a really fascinating development just the last, I would say nine months. There are seven private banks and broker dealers who have put our products on their platforms so that their advisers and customers can access the space.
The platforms that over the last nine months or twelve months, have been recent and ramping up [up], approves our products for crypto exposure. They represent $ 2 trillion in assets and tens of thousands of advisors and millions of accounts. “
In addition, Horsley says that the number of institutional advisers working with the company is increasing at a rapid pace.
“In 2020, six percent of advisers said they allocated client money to crypto. It grew 50 percent from year to year into 2021 to 9 percent. Still small. Meaningful because it is a gigantic audience, but small. This year, it is intended to increase another 70 percent to 16 percent of advisors who award.
If you play that forward, you have 50 percent of this segment allotted by 2024. So it still feels early because 9 percent, 16 percent. They do not feel like everyone I spoke to. But the course is what is important, and the course is a wave. A wave that collects steam. “
Bitwise launched its first crypto index fund in 2017.
The company now offers 14 crypto funds and exposure to over 30 different crypto assets and 10 NFT collections, with $ 1.3 billion in assets under management.
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