Bitwise Bitcoin ETF Heats Competition
Bitwise Bitcoin ETF (BITB) has seen a significant increase in adoption, compared to prominent players like Grayscale’s GBTC and BlackRock’s IBIT.
CEO Hunter Horsley has maintained transparency on the collaborations secured through BITB, revealing its adoption by a wealth management firm with over $100 billion in Assets Under Management (AUM).
BITB is the lowest-cost Bitcoin ETF with over $1 billion in assets and offers a penny-wide bid-ask spread and smooth trades.
The SEC is currently seeking feedback on a potential rule change that would permit the listing and trading of Spot Bitcoin ETFs on exchanges alongside derivatives.
This would mark a significant milestone in the integration of crypto products into financial markets, offering new avenues for hedging, income generation, and speculation on Bitcoin’s price movements.
(With inputs from Shikha Singh)
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