Crypto asset management firm Bitwise Asset Management announced that the company has now surpassed $5 billion in assets under management across its suite of beta and alpha investment products.
New and existing investors have made 2024 a “breakout” year for Bitwise, with several key milestones for the firm.
The January roll-out of Bitwise’s first spot Bitcoin ETP, which became one of the 25 “fastest-growing” ETPs in history on its way to more than $2.7 billion in assets today.
The July introduction of the company’s first spot Ethereum ETP, which has attracted $300 million+ in inflows in its first three months. And the August acquisition of London’s ETC Group, issuer of the largest physical Bitcoin ETP in Europe.
Now, the Bitwise suite includes the “largest” crypto index fund, a thematic equity ETF, leading spot crypto ETPs, multi-strategy alpha solutions, separately managed accounts, and private funds.
Its European platform reportedly features nine crypto ETPs investing in assets ranging from Bitcoin and Ethereum to XRP and Solana.
In addition to the $5 billion milestone, Bitwise has recently announced the recent appointment of longtime ETF industry leader Luis Berruga as an advisor.
Berruga, the founder and managing partner of boutique investment firm LBS Capital, was CEO of ETF provider Global X during a period in which the firm increased its assets “from $8 billion to nearly $40 billion and became a leading global ETF powerhouse.”
In his role, Berruga will be responsible for advising Bitwise on strategic partnerships, global distribution, and mergers and acquisitions.
Bitwise Asset Management is a crypto specialist asset manager serving clients in the U.S. and Europe.
Financial advisors, family offices, and institutional investors partner with Bitwise in order to understand and access the opportunities in crypto.
For seven years, Bitwise has established a track record of excellence managing a broad suite of index and “active solutions across ETFs, separately managed accounts, private funds, and hedge fund strategies.’
The company is known for providing unparalleled client support through expert research and commentary, its nationwide client “team of crypto specialists, and its deep access to the crypto ecosystem.”
The Bitwise team of 80+ professionals combines expertise in tech as well as asset management with backgrounds including BlackRock, Millennium, ETF.com, Meta, Google, and the U.S. Attorney’s Office.
Bitwise claims that it is backed by various institutional investors.
It maintains business offices in major cities including: San Francisco, New York, and London.
LBS Capital is an investment firm and advisory business that works with a select group of C-level execs in the wealth and asset management sector.
Specializing in ETFs and corporate governance, the company reportedly provides “pragmatic” advice in order to help asset management firms achieve sustainable “long-term growth.”