The Bitwise Asset Management’s CEO recently forecasted a significant uptick in Bitcoin ETF holdings among wealth management firms. Citing growing client interest and the potential for portfolio diversification, the CEO believes these firms will increasingly integrate Bitcoin ETFs into their investment strategies.
Bitcoin ETFs Expected to Gain More Traction in the Future, Bitwise CEO
In his recent post on X, Hunter Horsley predicts wealth management firms will increasingly hold more Bitcoin ETFs at the end of the year.
By the end of 2024, people are going to be stunned by how many wealth management firms own a bitcoin ETF.
They’re smart, many extremely well informed, and increasingly share conviction on Bitcoin. Oh, and they’re long only.
Going to be an amazing new constituent in the…
— Hunter Horsley (@HHorsley) April 20, 2024
Hunter’s prediction coincides with expectations that Bitcoin ETFs will become even more popular after the recent halving. It also aligns with the general market belief that demand for ETFs is on the rise, likely due to the strong performance of established firms like Blackrock and Fidelity in the ETF space.
Notably, the prediction discloses growing interest in Bitcoin as an investment asset among traditional finance institutions as Hunter hopes for an incredible new constituent in the Bitcoin Space.
Meanwhile, major financial players are delving deep into the Bitcoin market behind closed doors, conducting comprehensive studies. Bitwise’s investigation earlier this year unveiled a noteworthy trend of companies quietly adding Bitcoin to their portfolios without public announcements.
