Bitwise CEO Calls Bakkt, CME, CBOE and Fidelity by Name for Enhancing Cryptocurrency’s Future

The bear market has been bringing down Bitcoin for the last few weeks, along with multiple other coins in the industry. Even with this downward trend, multiple updates and changes in the cryptoverse have neen coming out to show how the community is reacting. Bitwise is one of the most recent commentators, in a conversation with Bloomberg.

Hunter Horsley, the CEO for Bitwise, discussed the way that the investors are following along with the current crash. Stating that Bitcoin’s demise was the ultimate reason for the slope, he also commented on the way that new investors are coming in, which shows that the industry is still developing the ecosystem as they wait for Bitcoin to come back up. Horsley commented,

“If you look at the cryptocurrency market ever since the inception of Bitcoin, the cryptocurrency bubble has not burst. In the ten year history, the market has dropped significantly lesser than the S&P market.”

Based on his opinion, the crypto assets trade in a similar way to public equity, but acts more like a phenomenon than anything else. Hunter Horsley also noted that the issue of retaining investors in the industry is complicated for Bitwise, because they offer both crypto funds and beta products.

About 20% of the clients they presently hold have increased investments as they’ve seen new investors join. As Horsley puts it,

“A lot of people view the industry as bear market with the number of investors going up all year round. The investor demographic also shows that the type of investors have also changed..”

Investors that got in sooner had more of a portion of the assets, though the inflow now comes with professional investors making the moves. Investors that are familiar with the process side with the fund format, allowing them to consider their potential investments. From there, Bitwise will evaluate the storage custodian.

This week alone, there are two new single-asset funds that Bitwise launched – the Bitwise Bitcoin Fund and the Bitwise Ethereum Fund. The company released a statement, commenting,

“The launch was driven by inbound client interest and investor dissatisfaction with existing options, many of which carry premiums, charge exit fees, have lockups, and/or charge expenses to the fund outside the stated management fee.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide