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The giant asset management company Bitwise‘s spot Bitcoin ETF, BITB, has reached an important milestone in the ETF competition. Bitwise has signaled increasing adoption by strengthening its position against established players like Grayscale’s GBTC and the world’s largest asset management company BlackRock’s IBIT.
$100 Billion Threshold Surpassed
Bitwise CEO Hunter Horsley recently shared that the assets under management (AUM) of BITB have risen above $100 billion. Horsley expressed his excitement about this development, emphasizing the company’s efforts to provide clients access to BITB.
The strong adoption of Bitwise’s BITB is a significant indicator of the growing interest in spot Bitcoin ETFs among institutional investors. According to Horsley, spot Bitcoin ETFs have transformed the investment landscape, and investors choose Bitwise for its expertise in the field. BITB is touted as the spot Bitcoin ETF with the lowest fund management fee for assets over $1 billion, offering a very low bid-ask spread and a seamless trading experience.
Bitwise’s commitment to transparency sets it apart in the market. Horsley highlighted that BITB is the only spot Bitcoin ETF with a publicly shared wallet address, allowing owners to track their assets transparently without any extra fees. This transparency boosts investor confidence in BITB, supporting its adoption among both institutional and individual investors.
Pushing for New ETF Options
With the aim of expanding their offerings, both Bitwise and Grayscale are seeking approval from the U.S. Securities and Exchange Commission (SEC) for their ETF options proposal. The proposal suggests that options for spot Bitcoin ETFs could be traded similarly to options on other ETFs, including those based on commodities, and would require regulatory considerations to ensure market integrity and investor protection. The proposal would pave the way for the listing and trading of spot Bitcoin ETFs alongside derivatives on exchanges. This move responds to the growing demand for options trading on trusts like BITB and GBTC, which directly hold BTC.
If approved by the SEC, the integration of spot Bitcoin ETF options into financial markets will be a significant turning point, offering exchange participants new ways to hedge risk, generate income, and speculate on Bitcoin’s price movements.
