{"id":146901,"date":"2021-01-04T18:48:17","date_gmt":"2021-01-04T15:48:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitwise-aum-surpasses-500-million-as-institutions-flock-to-crypto\/"},"modified":"2021-01-04T18:48:17","modified_gmt":"2021-01-04T15:48:17","slug":"bitwise-aum-surpasses-500-million-as-institutions-flock-to-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitwise-aum-surpasses-500-million-as-institutions-flock-to-crypto\/","title":{"rendered":"# Bitwise AUM surpasses $500 million as institutions flock to crypto"},"content":{"rendered":"

“# Bitwise AUM surpasses $500 million as institutions flock to crypto <\/strong>”
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Leading crypto fund manager Bitwise Asset Management reached a major milestone in the fourth quarter of 2020 as inflows into its products surged to new record highs, underscoring heightened institutional demand for digital assets.<\/p>\n

The firm\u2019s assets under management, or AUM, surpassed<\/a> $500 million, according to a Monday press release. That\u2019s a considerable increase from the $100 million in AUM held on Oct. 28, 2020. <\/p>\n

The press release reads:<\/p>\n

\u201cBitwise saw record inflows into its funds during Q4 2020, surpassing the total cumulative inflows of 2018 and 2019 combined.\u201d<\/p><\/blockquote>\n

Most of the new demand came from investment professionals such as financial advisers, hedge funds, corporations and other institutional investors. <\/p>\n

The Bitwise 10 Crypto Index Fund, which provides broad exposure to the largest digital assets, is by far the most popular product, with over $400 million in assets under management. The fund holds Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and seven other cryptocurrencies. <\/p>\n

Bitwise says demand for its Bitcoin and Ethereum-focused funds also saw higher demand in the fourth quarter. <\/p>\n

Hunter Horsley, Bitwise\u2019s co-founder and CEO, said \u201cThe speed at which professional investors are moving into crypto right now is remarkable.\u201d <\/p>\n

Before the new year, Bitwise announced it had liquidated its position in XRP in response to the lawsuit filed against Ripple Labs by the United States Securities and Exchange Commission. Beyond the XRP fiasco, the cryptocurrency market app<\/a>ears poised to expand as more institutional investors come on board. <\/p>\n

David Lawant, a research analyst at Bitwise, recently told Cointelegraph that\u00a0there\u2019s less \u201ccareer risk\u201d for entering crypto, which means more institutions are coming on board. Bitcoin\u2019s growing appeal as a safe-haven asset that can potentially offset the so-called \u201cgreat monetary inflation\u201d has become a key catalyst for adoption, he said. <\/p>\n