Crypto Milestone: First Bitcoin ETF Launched by Bitwise on the NYSE

Bitwise launches revolutionary BITB, the first spot Bitcoin ETF on NYSE Arca, opening seamless access to Bitcoin for investors.
Crypto Milestone First Bitcoin ETF Launched by Bitwise on the NYSE

According to a report, Bitwise Asset Management is proud to announce that the BITB spot Bitcoin ETF is the first to be launched on the NYSE Arca.

BITB has seamlessly incorporated Bitcoin into financial portfolios alongside the rest of Bitwise’s crypto services. The ETF is in charge of Bitcoins, and Coinbase has assured their physical security. CEO Hunter Horsley anticipates a high level of demand because financial advisors have a clear preference for these kinds of products.

“Financial advisors have been identifying an ETF as their preferred solution to assist clients in accessing bitcoins through this means for the past six years,” stated Horsley.

Bitwise CIO Matt Hougan emphasizes how revolutionary the launch is. “Being the owner of Bitcoin used to be complicated,” he says. These days, it is practically as accessible and well-known as well-known asset classes like gold or private credit.

0.20% expenditure ratio and a zero-fee trial period lasting six months for $1 billion in assets. Additionally, bitwise demonstrates its dedication to working on open-source development by allocating 10% of BITB’s profits to relevant organizations like OpenSats and Brink.

BITB is one of the 11 Bitcoin ETFs that the SEC has approved, marking a significant turning point for the sector.

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