Bitwise Asset Management, a provider of crypto index funds, says its assets under management (AUM) have now passed the $500 million mark – up from $100 million reported in late October.
- The company said Monday that its Bitwise Bitcoin Fund and Bitwise Ethereum Fund have seen increased demand in the fourth quarter of 2020 from financial advisers, hedge funds and institutional investors.
- But the Bitwise 10 Crypto Index Fund – aimed at tracking a basket of 10 top crypto assets – saw the strongest demand, recently crossing over $400 million in AUM, the firm said.
- "The speed at which professional investors are moving into crypto right now is remarkable," said Hunter Horsley, co-founder and CEO of Bitwise.
- The period since October has also seen prices across cryptocurrencies rise sharply, helping to boost the AUM total.
- Still, Bitwise said its funds had seen record inflows during Q4 2020, "surpassing the total cumulative inflows of 2018 and 2019 combined."