According to CryptoPotato, Bitwise CEO Hunter Horsley has hinted at significant financial entities investing in Bitcoin (BTC), without revealing their identities. In a recent interview, Horsley discussed the rapid evolution of institutional and regulatory acceptance of Bitcoin as an investable asset, which is happening faster than most people realize. He confirmed that a certain nation's sovereign wealth fund has already ventured into Bitcoin mining. Horsley also mentioned a 'large technology company' that has invested a 'meaningful percentage' of its balance sheet into the Bitwise Bitcoin ETF, which currently holds $2.3 billion in assets under management. The company prefers to keep its investment private.
Earlier this month, the public got a glimpse of which institutions were buying the Bitcoin ETFs as many high-net-worth investors disclosed their Q1 securities portfolios in mandatory 13F filings with federal regulators. Some of these included a $2 billion allocation from heavyweight hedge fund Millennium Management and a $162 million allocation from the State of Wisconsin Investment Board (SWIB). Horsley predicted that by next year, a giant tech firm like Meta may put Bitcoin on its balance sheet, thanks to the ETFs making the asset much easier to hold. He believes the next catalyst for Bitcoin's bull market will be when the public realizes 'the extent to which some of the most important, smartest organizations and lawmakers are onboard with Bitcoin.'
In a memo last week, Bitwise CIO Matt Hougan expressed his bullish stance on Bitcoin ETFs, given that their latest buyers still have substantial room to increase their allocations. However, he did not provide any specific details about these potential investors.