Bitwise has climbed up the ranks of top ETF issuers by assets under management (AUM) after it added over $63 million worth of Bitcoin tokens to its portfolio.
On Thursday, January 18, Hunter Horsley, the CEO of Bitwise, took to X to announce this latest crypto asset purchase. According to Horsley, this acquisition brings Bitwise’s total asset inflow to an impressive $370 million. Initially valued at approximately $355 million, the asset management firm’s ascent places it in the top 25 among the 540 exchange-traded fund issuers launched in the US last year, based on AUM metrics.
According to Bitmex Research, BlackRock, Fidelity Investments, and Bitwise ranked the highest among the top ETF providers by AUM, with $1.085 billion, $884 million, and $375 million, respectively. Following closely are ARK Invest, Invesco, and Franklin Templeton ETFs.
Bitwise’s spot Bitcoin ETF (BITB) currently holds over 8,309 Bitcoin tokens and trails behind BlackRock’s iShares and Fidelity’s Wise origin with 16,362 and 12,112 Bitcoin tokens, respectively. This data is reportedly extracted from the fourth-day trading report of these ETFs.
On the other hand, Grayscale Bitcoin Trust Shares (GBTC) is grappling with significant declines in its assets under management as many investors continue to liquidate their assets and switch over to cheaper alternatives. One such investor was Cathie Wood’s ARK Invest. The asset manager sold off its investments of $15.8 million in the fund, redirected the funds to purchase ProShares units and recently sold them again to buy shares of its ETF, ARK 21Shares Bitcoin ETF (ARKB).
Thus, while other newly approved ETFs have seen notable increases, GBTC has steadily declined. As of press time, Grayscale has yet to release its Bitcoin holdings/transactions for its fourth trading day.
The asset management firm currently holds over 8,309 Bitcoin tokens and follows after If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
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