As the cryptocurrency industry continues to pave its way to more success, more cryptocurrency firms are reporting having achieved new milestones. One of which is Bitwise that is known to be one of the leading managers for cryptocurrency funds.
Bitwise has recently released a statement informing their entire community that they have achieved a new milestone in terms of their AUM. The firm has revealed that it has successfully achieved the $1 billion assets under management (AUM) benchmark.
The firm has reported that after hitting the $1 billion benchmarks, it is now on its way to hit new milestones and targets. The announcement around meeting the benchmark was made by Bitwise on February 23, 2021. The firm was glad to admit that this is the first time the firm has managed to cross the billion-dollar AUM mark.
The Bitwise 10 Crypto Index Fund is known for providing Bitcoin (BTC) and other leading cryptocurrencies exposure to investors. The Bitwise 10 Crypto Index Fund currently accounts for more than 90% of Bitwise’s entire assets under management (AUM).
While talking about the achievement of Bitwise, the CEO of the company, Hunter Horsley also talked about the current trends of cryptocurrencies. Horsley stated that the cryptocurrency industry is currently at a turning point for the first time in its entire history.
Although the industry has been pacing up since the beginning of the year 2020, yet the industry’s progress has been sky-rocketing since 2021. The industry has gained so much progress and mainstream adoption, that it is constantly experiencing an influx from investors.
On a daily basis, the investors are piling up to invest in Bitcoin (BTC) and other cryptocurrencies one way or another. However, as Bitcoin (BTC) continues to surge with respect to its price and market capitalization, it has become one of the safest investment assets in the world.
This is why firms such as Bitwise are seeing a lot of heavy investors coming in and spending millions in acquiring cryptocurrencies to keep them safe.
With time, more and more investors are trying to gain more exposure in the cryptocurrency sector. They are exploring almost all the products that are currently being offered by the crypto-verse. Whichever product is the most reliable and profitable, the investors tend to go with them.
Apart from providing support to investors for cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), the platform is also providing support for decentralized finance assets.
At present, some of the most prominent DeFi assets the platform is supporting include MKR, UNI, SNX, and LEND.
In the running year, Bitwise is not the only cryptocurrency manager that is reporting all-time highs. Greyscale, which is the largest crypto manager in the entire industry has also reported all-time highs. The firm reportedly has around $30 billion worth of assets under management (AUM)