Bitwise: Pushing for Over 20 Wealth Management Platforms to Approve Crypto ETPs

Odaily reports: Bitwise analyst Ishmael Asad posted on X that Bitwise is currently working with over 20 wealth management platforms, which collectively manage approximately $24 trillion in assets. Bitwise is also pushing these platforms to approve crypto asset exchange-traded products (ETPs) so that their investment advisors can offer clients access to crypto asset allocation.

Currently, among the institutions Bitwise works with, 17 have approved crypto-related equity ETPs, 11 have approved Bitcoin ETPs, 6 have approved Ethereum ETPs, 6 have approved top-10 crypto asset portfolio ETPs, and 2 have approved Solana ETPs, with 1 each approving a Bitcoin and gold combo ETP and an XRP ETP.

Asad stated that since the first batch of spot crypto ETFs launched in January 2024, crypto ETPs have seen cumulative net inflows of approximately $77 billion. Currently, there are over 50 spot crypto ETPs in the U.S. market, and the number continues to grow, covering BTC, ETH, SOL, AVAX, LINK, XRP, ZEC, HYPE, crypto asset portfolios, and more. Additionally, wealth management institutions' interest in crypto assets continues to grow, with related demand extending from ETPs to crypto trading and custody, payments, and tokenization.