Bitwise Drives Approval of Crypto ETPs by Over 20 Wealth Management Platforms

Bitwise is collaborating with more than 20 wealth management platforms, which collectively manage approximately $24 trillion in assets. Bitwise aims to push these platforms to approve cryptocurrency exchange-traded products (ETPs) to provide investment advisors with channels for crypto asset allocation. Currently, 17 institutions have approved crypto-themed stock ETPs, 11 have approved Bitcoin ETPs, 6 have approved Ethereum ETPs, 6 have approved ETPs for the top ten cryptocurrencies, 2 have approved Solana ETPs, and 1 has approved a Bitcoin and gold combination as well as an XRP ETP. Since the launch of the first spot crypto ETFs in January 2024, crypto ETPs have seen a cumulative net inflow of approximately $77 billion. Currently, there are over 50 spot crypto ETPs in the U.S. market, covering BTC, ETH, SOL, AVAX, LINK, XRP, ZEC, HYPE, and crypto asset portfolios. The interest of wealth management institutions in crypto assets continues to grow, with related demand extending from ETPs to crypto trading and custody, payments, and tokenization.

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