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    Bitcoin ETF: Bitwise Says Institutions Are Still Investing

    Despite some increased volatility for the leading crypto, Bitcoin ETFs are still being bought by institutions, according to Bitwise. Indeed, the asset manager noted that institutional investors in the BTC ETFs have continued to increase. Specifically, the figure increased 14% in Q2 of this year.

    In a new report from the firm, crypto faces a massive question in terms of institutional interest. They note that the market is questioning if these companies will continue to allocate funds toward the asset class. Therefore, increasing their exposure to BTC, and continuing to grow its prevalence throughout the finance sector.

    Also Read: Wisconsin State Adds 447,000 Shares to its Bitcoin ETF Holdings

    Bitwise Says Institutional Investment in BTC ETFs is Growing

    2024 has been an interesting year for Bitcoin. The token received the landmark inaugural crypto-based ETF in January. Three months later, it reached an all-time high of $73,000 because of the product’s success. However, volatility has been present since that milestone.

    The leading cryptocurrency has fallen more than 11% in the last 30 days, according to CoinMarketCap. Moreover, its recent 2.6% fall this week has BTC trading under $60,000. That may not affect the asset’s investment offering.

    Bitcoin ETFs are still garnering plenty of institutional investment, according to asset manager Bitwise. Despite BTC’s 12% dip in Q2, there was an increase in institutional holdings of the exchange-traded funds. The number of holdings rose to 1,100 from Q1. Moreover, their share of total assets under management increased to 21.15%, holding a total of $11 billion in BTC ETFs.

    Also Read: Morgan Stanley Discloses $187 Million in Bitcoin ETF Holdings

    “This is a great sign,” Bitwise chief investment officer Matt Hougan said in a Monday report. “If institutions will buy Bitcoin when prices are volatile, imagine what could happen in a bull market.” Additionally, he noted that the number proves that Bitcoin ETFs are not held predominately by retail investors.

    On the contrary, Hougan said that BTC ETFs are being adopted by institutions “at the fastest rate of any ETF in history.” This is certainly good news for Bitcoin and crypto. The asset class has been clamoring for this kind of investment offering. Now, its success is proving the value of those assertions.

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