Major U.S. Bank Invests Heavily in Bitwise Bitcoin ETF

Hunter Horsley, CEO of Bitwise Invest, has announced that a major U.S. bank is making a substantial commitment to Bitwise's spot Bitcoin ETF, along with other crypto-focused ETFs.

According to Horsley, 20% of the bank’s wealth management branches are now invested in these ETFs, signaling growing mainstream acceptance of cryptocurrencies.

Horsley shared on social media that a significant segment of the bank’s wealth management divisions is backing Bitwise ETFs, reflecting a shift towards wider institutional adoption of digital assets. The Bitwise ETF (BITB) now holds around 40,500 BTC, valued at approximately $2.71 billion.

The BITB ETF has recently attracted over $2.2 billion in inflows, with a $44.6 million addition just last Friday. The enthusiasm for crypto assets is expected to intensify with the upcoming launch of spot Ethereum ETFs.

Bitwise’s CIO, Matt Hougan, predicts Ethereum could see a price surge to $5,000, mirroring Bitcoin’s earlier performance.

At the time of writing Bitcoin’s price has increased by over 3.7% recently, trading at $66,600.