Hunter Horsley, Founder & CEO of Bitwise Asset Management, and Matt Hougan, CIO of Bitwise Asset Management, discuss topics such as bitcoin ETF launch, industry trends, capital allocation, and the evolution of Bitcoin perception in the media. They also delve into the impact of low fees on retail demand and the growth of assets in ETFs over time.
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Quick takeaways
Financial advisors' concerns about Bitcoin have shifted from custody to portfolio allocation strategies.
Approval of Bitcoin ETFs marks institutional acceptance and alleviates concerns of asset going to zero.
Deep dives
Bitwise Asset Management's Extensive Reach and Insights from Financial Advisors
Bitwise Asset Management, led by Hunter Horsley and Matt Hogan, has engaged in over 20,000 meetings and calls with various financial advisors. These interactions have provided valuable insights into the sentiments and questions of financial advisors across the country regarding Bitcoin and cryptocurrencies. The focus has shifted from concerns about custody and viability to discussions about position sizing and portfolio allocation strategies, indicating a maturing understanding and acceptance of these assets.
Significance of Bitcoin ETF Launches and Institutional Approvals
The approval and launch of Bitcoin ETFs have marked a significant milestone in the industry, signaling the institutional acceptance and recognition of Bitcoin as a legitimate asset class. With institutions like BlackRock entering the market, Bitcoin is now viewed as an institutional asset rather than a speculative venture. The approval of ETFs has alleviated concerns among financial advisors about the asset going to zero, providing a new level of confidence in its stability and investment potential.
Bitwise Asset Management's Growth and Strategic Approach
Bitwise Asset Management, after six years in the industry, manages 15 funds and has amassed two billion in assets within two months of launching a Bitcoin ETF. The company's success lies in its commitment to transparency, as evidenced by the public disclosure of Bitcoin addresses and the donation of 10% of profits to Bitcoin developers. By focusing on specialized expertise and maintaining a client-centric approach, Bitwise aims to provide investors with easy access to the crypto market.
Product Diversity and Future Outlook for Bitwise Asset Management
Bitwise Asset Management's strategic roadmap includes a diverse range of products to cater to varying investor needs, including diversified crypto index funds, DeFi index funds, and NFT index funds. With 19 products currently available and more in the pipeline, Bitwise remains agile in responding to market developments and investor preferences. The aim is to offer high-quality products that align with evolving market trends, providing investors with opportunities for income generation and downside protection in the crypto space.
Hunter Horsley is the Founder & CEO of Bitwise Asset Management. Matt Hougan is the CIO of Bitwise Asset Management. In this conversation we talk about bitcoin ETF launch, 20,000 meetings & calls with various advisors, where they see the industry going from here, how folks are thinking about allocating capital, and more.
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Pomp writes a daily letter to over 265,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/