Bitwise Invest CEO Hunter Horsley Announces Major U.S. Bank Commitment to Spot Bitcoin ETF

According to Horsley, 20% of the bank's wealth management branches are now invested in these ETFs, signaling growing mainstream acceptance of cryptocurrencies.

A major U.S. bank is making a significant commitment to Bitwise’s spot Bitcoin ETF, together with other crypto-focused ETFs, according to Hunter Horsley, CEO of Bitwise Invest.

Horsley announced the development on social media, adding that 20% of the bank’s total wealth management branches are now invested in these ETFs. The move highlights the growing mainstream acceptance of cryptocurrencies.

A large portion of the bank’s wealth management divisions is now backing Bitwise ETFs, indicating a shift towards broader institutional adoption of digital assets. The Bitwise ETF (BITB) currently holds about 40,500 BTC, valued at approximately $2.71 billion.

The BITB ETF has recently attracted over $2.2 billion in inflows, with a $44.6 million addition just last Friday. The excitement for crypto assets is set to increase further with the upcoming launch of spot Ethereum ETFs.

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Bitwise’s CIO, Matt Hougan, predicts that Ethereum could see a price surge to $5,000, following a trend similar to Bitcoin’s earlier performance.

At the time of writing, Bitcoin’s price has increased by over 3.7% recently, trading at $66,600.

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