Investment Advisors Rapidly Embrace Bitcoin ETFs

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Bitwise CIO Matt Hougan stated that investment advisors have adopted Bitcoin exchange-traded funds (ETFs) faster than any other ETF in history. Hougan responded to a post by macro strategist Jim Bianco on social media platform X, where Bianco claimed that the adoption of Bitcoin ETFs by investment advisors was “small.” Hougan clarified that Bianco’s assessment was incorrect.

Contributions of Investment Advisors

Hougan highlighted that BlackRock’s ETF IBIT had seen net inflows of $1.45 billion from investment advisors, which Bianco described as “small.” However, Hougan argued that investment advisors have adopted Bitcoin ETFs faster than any new ETF in history. Larger purchases by other investors have overshadowed the historic entries by investment advisors.

Eric Balchunas’ Assessment

Bloomberg ETF analyst Eric Balchunas also agrees with Hougan’s assessment. Balchunas pointed out that IBIT saw organic inflows of $1.5 billion through allocations from investment advisors, surpassing all other ETFs launched this year. This is seen as an indicator of how quickly Bitcoin ETFs have been adopted by investment advisors.

Current State of Bitcoin

At the time of writing, Bitcoin was reported to be trading at $57,627. This price can be considered an indicator of investor interest in Bitcoin ETFs. The rapid adoption by investment advisors could strengthen Bitcoin’s position in the financial market.

In conclusion, it is stated that investment advisors have adopted Bitcoin ETFs faster than any ETF in history. This is particularly supported by the significant net inflows seen by BlackRock’s ETF IBIT. Although investment advisors’ Bitcoin ETF purchases have been overshadowed by larger purchases from other investors, it shows that their contributions should not be underestimated. This development might indicate the future growth potential of Bitcoin ETFs.

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