Bitwise records $26m inflows in a few hours

Bitwise Investment Management (BITB) has sustained its bull run recording $26,000,000 inflows today and $82 million in volume in just 3.5 hours with a short market day. On its previous day of trades, Nov. 28, Bitwise’s $BITB led at $48.05 million with Fidelity’s $FDT at $40.24 million as no other ETF inflows or outflows were recorded. Bitwise sees strong appetite for digital assets BITB, CEO Hunter Horsley revealed in a post on X platform adding the bull run was suggestive of strong demand for digital assets by investors. “$26,000,000 of inflows into $BITB today and $82M of volume in just 3.5 hours with short market day,” wrote Horsley. “People want more Bitcoin. Things are just getting started. Happy Thanksgiving!” Horsley. This comes as Bitwise filed to start a 10-Crypto index exchange-traded fund (ETF) meant to provide exposure to the Bitwise 10 Large Cap Crypto Index including Bitcoin, Ethereum, Ripple, Cardano, Solana, Avalanche, Chainlink, Bitcoin Cash, Uniswap and Polkadot. Once approved, the 10-Crypto Index ETF is expected to expand the two-way access between mainstream and the digital asset market, which will immensely interest both institutional and retail investors. Coinbase Custody will store the assets while the Bank of New York Mellon will act as the fund’s cash custodian and administrator. Bitwise reangles its European operations targeting institutional investors Bitwise has a history of supporting new and advanced crypto investment products, as last year the company submitted requests for ETFs based on Solana and XRP. The company has also spread its operations to Europe. Meanwhile, the asset management firm has announced the rebranding of its European XRP ETF to Bitwise Physical XRP ETP. The European operation, which was known as ETF Group Physical XRP will trade in Germany’s Deutsche Börse XETRA under the ticker GXRP. In a Wednesday blog, Bitwise indicated the move was part of a strategic overhaul of the company’s European product lineup. This was also meant to enhance its appeal to institutional investors seeking regulated exposure to XRP. The operation launched in 2022 under the ETC group and remains backed by physical XRP. Horsley spoke of a strong track record and evolving capabilities of the XRP Ledger (XRPL) a blockchain with more than a decade of proven reliability. “We’re thrilled to provide investors with access to this innovative asset through an institutional-quality product,” Horsley noted, signaling the product’s potential to attract significant institutional interest. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap