Token

Bitcoin Token

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 Bitwise has climbed up the ranks of top ETF issuers by assets under management (AUM) after it added over $63 million worth of Bitcoin tokens to its portfolio.&nbsp; 
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On Thursday, January 18, Hunter Horsley, the CEO of Bitwise, <a style="color: #0000ff;" href="https://x.com/hhorsley/status/1747815189398081813?s=46">took to X</a> to announce this latest crypto asset purchase. According to Horsley, this acquisition brings Bitwise’s total asset inflow to an impressive $370 million. Initially valued at approximately $355 million, the asset management firm’s ascent places it in the top 25 among the 540 exchange-traded fund issuers launched in the US last year, based on AUM metrics. 
<a href="https://x.com/bitmexresearch/status/1747874409979822185?s=46">According to Bitmex Research</a>, BlackRock, Fidelity Investments, and Bitwise ranked the highest among the top ETF providers by AUM, with $1.085 billion, $884 million, and $375 million, respectively. Following closely are ARK Invest, Invesco, and Franklin Templeton ETFs. 
Bitwise’s spot Bitcoin ETF (BITB) <a style="color: #0000ff;" href="https://x.com/capital15c/status/1747807020906856547?s=46">currently</a> holds over 8,309 Bitcoin tokens and trails behind BlackRock’s iShares and Fidelity’s Wise origin with 16,362 and 12,112 Bitcoin tokens, respectively. This data is <a href="https://x.com/capital15c/status/1747807020906856547?s=46">reportedly </a>extracted from the fourth-day trading report of these ETFs.&nbsp; 
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 <img loading="lazy" decoding="async" class="size-medium" src="https://pbs.twimg.com/media/GEF1OJJXQAAcW0F?format=jpg&amp;name=large" width="2048" height="820">
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 Data about Day 4 of live trading for ETFs. Source: <a href="https://pbs.twimg.com/media/GEF1OJJXQAAcW0F?format=jpg&amp;name=large">CC15Capital’s post on X.</a>
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On the other hand, Grayscale Bitcoin Trust Shares (GBTC) is grappling with <a style="color: #0000ff;" href="https://defi-planet.com/2024/01/grayscales-gbtc-records-1-1-billion-exodus-following-discount-drop/">significant declines</a> in its assets under management as many investors continue to liquidate their assets and switch over to cheaper alternatives. One such investor was Cathie Wood’s ARK Invest. <a href="https://defi-planet.com/2024/01/ark-invest-buys-15-9-million-worth-of-shares-of-its-newly-approved-bitcoin-etf/">The asset manager sold off its investments of $15.8 million in the fund, redirected the funds to purchase ProShares units and recently sold them again to buy shares of its ETF, ARK 21Shares Bitcoin ETF (ARKB)</a>. 
Thus, while other newly approved ETFs have seen notable increases, GBTC has steadily declined. As of press time, Grayscale has yet to release its Bitcoin holdings/transactions for its fourth trading day.&nbsp; 
 The asset management firm <a style="color: #0000ff;" href="https://x.com/capital15c/status/1747807020906856547?s=46">currently</a> holds over 8,309 Bitcoin tokens and follows after If you want to read more news articles like this, visit <a href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
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The post <a rel="nofollow" href="https://defi-planet.com/2024/01/bitwises-bitb-moves-up-in-etf-value-rankings-with-63-million-bitcoin-token-purchase/">Bitwise’s BITB Moves Up in ETF Value Rankings with $63 Million Bitcoin Token Purchase</a> appeared first on <a rel="nofollow" href="https://defi-planet.com">DeFi Planet</a>.

Bitwise’s BITB Moves Up in ETF Value Rankings with $63 Million Bitcoin Token Purchase

DeFi Planet

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