Bitwise Bitcoin and Ethereum ETFs See Major RIA Investments Amid Institutional Growth

• Bitwise Bitcoin and Ethereum ETFs received several million dollars in investments from a large Registered Investment Advisor (RIA).
• Bitcoin ETF inflows reached $252 million on August 23, reflecting strong institutional and retail investor confidence.
• Despite challenging conditions for Ether ETFs, Bitwise’s Ethereum ETF (ETHW) managed a $1.4 million inflow, signaling selective market optimism.

Bitwise, a leading issuer of cryptocurrency ETFs, has secured significant investments in its Bitcoin and Ethereum ETFs from a large Registered Investment Advisor (RIA).This Development highlights the growing institutional interest in cryptocurrency ETFs. The RIA has invested several million dollars in Bitwise’s Bitcoin ETF (BITB) and Ethereum ETF (ETHW), as well as in the Bitwise 10 Crypto Index (BITW), which covers a broader range of digital assets.

Surge in Bitcoin ETF Inflows Reflects Investor Confidence

On August 23, Bitcoin ETFs saw substantial inflows, with $252 million pouring into the market, bringing the weekly total to $506.4 million. This surge indicates strong confidence among institutional and retail investors as they anticipate possible Federal Reserve rate cuts. BlackRock, the world’s largest asset manager, reported $86.8 million in Bitcoin ETF inflows, while Fidelity recorded $64 million. Bitwise attracted $42.3 million, solidifying its position as a key player in the crypto ETF space.

Ether ETFs Face Outflows, But Bitwise Shows Resilience

While  Bitcoin ETFs have displayed great uptake, there is a problem with Ether ETFs. On the same day, Ether ETFs posted $5 outflows of funds. Seven million is a weekly sum of $44. 5 million in outflows. That said, this spate of rejection did not affect Bitwise’s Ethereum ETF (ETHW) as it received $1 million in investment. 4 million. That resilience, however, within the broader market trends tells of selective faith in Ethereum-based products.

The increasing usage of ETFs in cryptocurrency is equally exemplified in recent declarations made by other financial institutions. Goldman Sachs in its recent filings disclosed that it had a large exposure to several Bitcoin ETFs including investing $238. 892,200 in iShares Bitcoin Trust and $79. 5000000 dollars in the FBTC of Fidelity. Likewise, Morgan Stanley declared high exposure to BlackRock’s iShares Bitcoin Trust, Ark 21 Shares, and Grayscale’s Bitcoin ETFs.