Deniz 
Monday Bitwise Invest CIO Matt Hougan responded to a researcher’s allegation on the social media platform X that the adoption of spot bitcoin ETFs by investment advisers has been minimal.
“Investment advisers are embracing bitcoin ETFs faster than any new ETF in history,” Hougan noted in his essay. The spot fund owned by BlackRock “has attracted $1.5 billion in net flows from investment advisors. (Bianco) calls this ‘small’ because it’s a fraction of the $46 billion that has flowed into bitcoin ETFs in total.”
Hougan’s remarks responded to a long post from market research specialist Jim Bianco, who visited X on Sunday to state that financial advisers’ acceptance of the vehicles has been restricted and that spot bitcoin ETFs have “not become a tool for TradFi or boomer adoption.”.
Bianco added, “most Spot BTC ETF inflows were from on-chain holders moving back to TradFi accounts, so very little ‘new’ money has entered the crypto space,” according to crypto-quant analysis. With more than 300 exchange-traded funds established this year, “if you excluded all other flows and just looked at the $1.5 billion linked to investment advisers, IBIT would be the second fastest-growing ETF launched this year,” he added.
Analyst Eric Balchunas of Bloomberg ETF supported Hougan’s point of view. “Just IBIT’s advisor allocations (which add up to $1.5 billion) [have] more natural inflows than any other ETF launched this year,” he remarked on X.
The spot bitcoin ETF of Bitwise Invest has under management roughly $2 billion. Comprising around $20 billion in AUM, BlackRock’s IBIT fund is the biggest in the market.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.