Horsley made the remarks in a statement announcing the company’s milestone of surpassing $100 million in Assets Under Management (AUM). He stressed that in just three years of launching the platform, several factors have emerged as a catalyst in the shift from individual investors to institutions. Most specifically the growing interest has been spurred by major institutions joining the space. According to Horsley.
Institutions surpassing historical barriers
PayPal recently announced that its US customers will be able to transact in cryptocurrencies in the coming weeks. Elsewhere, Facebook unveiled the Libra project that is yet to be launched due to regulatory concerns. Most analysts view the two giant companies entry into the digital asset space as a gateway to top institutional investors. Bitwise notes that 2020 is a defining year for cryptocurrencies as the sector appealed to professional investors. The statement highlighted there is a breakthrough in surpassing challenges that have barred professional investors from the industry. Regulatory issues, custody, and reputation have been major pain points for a majority of institutional investors. Bitwise adds that the impact of cryptocurrencies on portfolios is now essential than ever. Bitwise is a leading provider of crypto-asset index funds to professional investors. The firm has witnessed more interest in its 10 Crypto Index Fund that tracks assets like Bitcoin, Ethereum, and Litecoin. With funds currently accessible through private placement, Bitwise has announced that shares will start trading publicly later this year. Furthermore, Bitwise has built a reputation supporting institutional investors through education.
