Bitwise Exec: BTC Spot ETF Garners Unprecedented Institutional Adoption

IconCryptoNewsTerminal Staff21 Aug, 2024

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Bitwise Exec: BTC Spot ETF Garners Unprecedented Institutional Adoption

Bitwise Chief Investment Officer Matt Hougan recently declared that the BTC Spot ETF has witnessed the most rapid institutional adoption of any ETF ever launched. Since its inception in January, the ETF has amassed an impressive $17.5 billion in net inflows, surpassing the previous record set by the Nasdaq QQQ. Despite suggestions that the ETF's institutional adoption is eclipsed by its strong retail participation, with institutional holdings reportedly comprising only 21%, Hougan maintains that the ETF still enjoys unrivaled institutional adoption, both in terms of institutional account numbers and total assets under management (AUM). He asserts that the ETF's seemingly lower institutional adoption is a result of the overwhelming retail interest, which has made institutional participation appear comparatively smaller.

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