Leading crypto asset manager Bitwise Asset Management announced that the company recently surpassed $5 billion in assets under management across its suite of beta and alpha investment products. New and existing investors have made 2024 a breakout year for Bitwise, with several key milestones for the firm:

• The January launch of Bitwise’s first spot Bitcoin ETP, which became one of the 25 fastest-growing ETPs in history on its way to more than $2.7 billion in assets today¹;
• The July launch of the firm’s first spot Ethereum ETP, which has attracted more than $300 million in inflows in its first three months;
• The August acquisition of London-based ETC Group, issuer of the largest physical Bitcoin ETP in Europe.

Today, the Bitwise suite includes the world’s largest crypto index fund, a leading thematic equity ETF, leading spot crypto ETPs, multi-strategy alpha solutions, separately managed accounts, and private funds. Its European platform, meanwhile, features nine crypto ETPs investing in assets ranging from Bitcoin and Ethereum to XRP and Solana.

In addition to the $5 billion milestone, Bitwise announced the recent appointment of longtime ETF industry leader Luis Berruga as an advisor. Berruga, the founder and managing partner of boutique investment firm LBS Capital, was CEO of ETF provider Global X during a period in which the firm increased its assets from $8 billion to nearly $40 billion and became a leading global ETF powerhouse. In his role, Berruga will advise Bitwise on strategic partnerships, global distribution, and mergers and acquisitions.

“This year, investors have trusted Bitwise to manage billions of dollars of investments in Bitcoin and crypto. We’re grateful for the trust they’ve placed in us as we continue to build Bitwise to be a best-in-class institution that they can rely on to access this space,” said Bitwise CEO Hunter Horsley. “I’m delighted to have Luis join as an advisor at this exciting juncture for Bitwise. Luis has the nearly unparalleled experience of pioneering the thematic equity category and scaling a new, enduring asset manager over the last decade. It’s a privilege to have his guidance as we work to do the same.”

“Bitcoin and public blockchains are a transformative new alternative asset class, with unique challenges and opportunities,” said Berruga. “As one of the top crypto specialists, Bitwise has assembled an unbelievably talented team with an impeccable track record of serving clients. I’m thrilled to support Hunter and the executive team as they continue to scale, guiding Bitwise to become one of the top institutional asset managers for the next 100 years of the internet age.”

Source: Bitwise