"We're holding our own against BlackRock and Fidelity," Bitwise Chief Investment Officer Matt Hougan told CoinDesk, referring to two giants of traditional finance that have vastly larger operations than Bitwise. "There are people who want a crypto-native asset manager to survive."
"We've entered the ETF era of crypto," he said. That means crypto is going to be normalized in people's portfolios, and a growing cohort of investors will want access to a wide array of crypto investment vehicles, be it single-asset (like the spot bitcoin ETFs) or multi-asset products (which could combine bitcoin and ether, for example).
It's been a great year for Bitwise Asset Management. The specialist in developing crypto investment products launched two of the most successful exchange-traded funds (ETFs) of all time. Its spot bitcoin ETF has amassed more than $1.2 billion in the span of nine months, while its spot ether ETF has raked in over $250 million in 84 days.
If you listen to Hougan, they're just getting started. The company grew its assets under management from roughly $1 billion to $5 billion, Hougan said, and Bitwise's acquisition of ETC Group - Europe's largest bitcoin exchange-traded product (ETP) issuer - means the firm now has a solid footing on the old continent.
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