bitwise

According to The Block, after Circle's stock price plummeted due to regulatory concerns, the asset management firm Bitwise stated that its valuation could reach $75 billion by 2030, believing that the market reaction is excessive.Bitwise Chief Investment Officer Matt Hougan stated that the relevant legislation has not changed the fundamental growth logic of the stablecoin market, citing Citigroup's prediction that the stablecoin market size could reach $1.9 trillion by 2030. He pointed out that interest income is not the core driver of stablecoin growth.In addition, institutions such as William Blair believe that although there is still uncertainty in regulatory statements, the value of stablecoins in cross-border B2B payments is evident, and the long-term outlook has not been substantively affected. Some analysts also pointed out that if profit distribution is restricted, it may weaken competitors' ability to attract liquidity through high yields, which would be beneficial for Circle.

According to SoSoValue data, yesterday (Eastern Time March 24), the total net outflow of Bitcoin spot ETFs was $74.5274 million.The Bitcoin spot ETF with the highest net outflow yesterday was Fidelity ETF FBTC, with a net outflow of $45.3491 million. Currently, FBTC has a historical total net inflow of $10.936 billion.The second was Bitwise ETF BITB, with a net outflow of $16.5974 million. Currently, BITB has a historical total net inflow of $2.12 billion.As of the time of writing, the total net asset value of Bitcoin spot ETFs is $89.745 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.4%, with a historical cumulative net inflow of $56.324 billion.

According to SoSoValue data, yesterday (Eastern Time March 24) the total net inflow of the SOL spot ETF was $4.6407 million.The SOL spot ETF with the highest net inflow yesterday was the Bitwise Solana Staking ETF (BSOL), with a net inflow of $2.9737 million for the day, bringing its historical total net inflow to $806 million.Following that was the Franklin Solana ETF (SOEZ), with a net inflow of $1.5337 million for the day, bringing its historical total net inflow to $9.776 million.As of the time of writing, the total net asset value of the SOL spot ETF is $881 million, with a SOL net asset ratio of 1.71%, and the historical cumulative net inflow has reached $994 million.

Lombard and Bitwise Asset Management announced a partnership at the Digital Asset Summit in New York, offering a solution for institutions to earn yields and collateralize BTC lending without moving assets out of custody, targeting the scale of BTC assets under institutional custody.Bitwise will develop yield strategies that combine DeFi lending with tokenized real-world assets, while the decentralized lending protocol Morpho will provide the infrastructure for BTC collateralized lending. The platform uses Bitcoin-native tools such as partially signed transactions and time locks to verify collateral, allowing positions to be represented on-chain without transferring or re-collateralizing the underlying assets.Phillips stated that Bitcoin Smart Accounts can simultaneously reduce custody, cross-chain bridge, and counterparty risks. This solution is aimed at high-net-worth individuals, asset management firms, and corporate treasuries, with plans to launch in the second quarter of 2026 and will add more custodians and protocols to expand coverage.Lombard estimates that approximately $500 billion in BTC is under institutional custody; DefiLlama data shows that the total locked value of BTC in DeFi is about $2.93 billion, with a market cap of approximately $1.4 trillion; as of the time of writing, Babylon Protocol's total locked value is about $2.8 billion, and Lombard's is approximately $744 million.

According to Blockworks, BSOL (the Solana staking ETP launched by Bitwise) has become the largest Solana staking ETP by assets under management (AUM).Over $1.8 billion in SOL is staked through the ETP, of which $600 million is held by BSOL owned by Bitwise.

According to CoinDesk, Bitwise Asset Management Chief Investment Officer Matt Hougan stated that if Bitcoin can capture a larger share of the global value storage market currently dominated by gold and government bonds, Bitcoin could eventually reach $1 million per coin. Geopolitical tensions, potential crises in traditional "safe" assets, and Bitcoin's fixed supply could accelerate its rise, but most believe this will take a decade or longer, rather than being an imminent event.Analysts say that the $1 million target is less of an exact prediction and more of a shorthand for Bitcoin maturing into a major global currency asset, with the outcome depending on long-term institutional adoption and the expansion of the value storage market.

According to The Block, Bitwise Chief Investment Officer Matt Hougan reiterated in a recent memo that the price of Bitcoin is expected to reach $1 million per coin. He pointed out that when viewed as a competitor to gold in the global value storage market, its long-term potential becomes clearer.Currently, the global value storage market is nearly $38 trillion, with gold accounting for about $36 trillion and Bitcoin approximately $1.4 trillion, making up less than 4%. Hougan believes that if the market continues to expand at an annual compound growth rate of about 13% over the past 20 years, it could reach around $121 trillion in the next decade, at which point Bitcoin would only need to capture about 17% of the market share to achieve a price of $1 million.He believes recent developments support this possibility: the spot Bitcoin ETF has become the fastest-growing ETF in history, institutions such as Harvard's endowment and the Abu Dhabi sovereign wealth fund have allocated to this asset, and Bitcoin's long-term volatility has decreased. He acknowledges that risks still exist but also points out that if concerns about government debt and fiat currency devaluation intensify, this prediction may still seem conservative.

Bitwise Chief Investment Officer Matt Hougan stated that the price of Bitcoin could potentially reach $1 million per coin in the future. He believes that when viewed from the perspective of the global "Store of Value" market, Bitcoin's long-term potential becomes clearer, as it is gradually competing with gold for the status of a digital value storage asset.In his latest memo titled "How Bitcoin Gets to $1 Million," Hougan pointed out that the current global value storage market is approximately $38 trillion, with about $36 trillion coming from gold, while Bitcoin is around $1.4 trillion, accounting for less than 4% of that market. Hougan believes that many investors underestimate Bitcoin's potential because they overlook the growth rate of the value storage market itself. For example, when the first gold ETF was launched in the U.S. in 2004, the global gold market was only about $2.5 trillion, and it has now approached $40 trillion, with a compound annual growth rate of about 13%. This growth has been primarily driven by increasing government debt, geopolitical uncertainty, and loose monetary policies.If the value storage market continues to expand at a similar pace over the next decade, its size could reach approximately $121 trillion. In this scenario, Bitcoin would only need to capture about 17% of the market share for its price to reach $1 million. Hougan also noted that the development of the crypto market in recent years has laid the groundwork for this outlook. For instance, a few years ago, there was no Bitcoin spot ETF in the U.S., but now Bitcoin spot ETFs have become one of the fastest-growing ETF products in history. At the same time, institutional investors, including Harvard University's endowment fund and the Abu Dhabi sovereign wealth fund, have begun to allocate Bitcoin.

According to PR Newswire, asset management company Bitwise announced that the Ethereum Foundation is using the open-source software Dirk and Vouch developed by its on-chain staking department for treasury staking. The Ethereum Foundation has completed its first deposit of 2,016 ETH and plans to ultimately stake around 70,000 ETH, valued at approximately $140 million.This staking aims to leverage the Dirk distributed signer and Vouch multi-client verification tools to ensure network security and client diversity.

According to a report by PR Newswire, cryptocurrency asset management company Bitwise Asset Management announced its second donation to Ethereum open-source developers, with this donation amounting to $100,000, awarded to two Ethereum open-source developer organizations, Protocol Guild and PBS Foundation.Bitwise stated yesterday that, as part of its annual commitment to support Bitcoin open-source developers, it donated $233,000 to Bitcoin open-source developers. This year, Bitwise's Bitcoin spot ETF (BITB) has seen significant growth, and this donation marks the second annual contribution of the 10% gross profit plan promised at the launch of BITB.

Bitwise announced on the X platform that, as part of its annual commitment to support Bitcoin open-source developers, Bitwise has donated $233,000 to Bitcoin open-source developers.This year, Bitwise Bitcoin ETF (BITB) has seen significant growth, and this donation marks the second annual contribution of the 10% gross profit plan promised at the launch of BITB. The funds will be distributed by three nonprofit organizations: Brink, OpenSats, and the HRF Bitcoin Development Fund.

Bitwise Chief Investment Officer Matt Hougan stated that it was previously expected that traditional markets would take 5 to 10 years to migrate to on-chain at scale. However, following the U.S. attacks on Iran and during the global major stock market closures, a large number of investors flocked to crypto platforms to trade tokenized assets, significantly advancing the timeline for the adoption of "on-chain finance." The crypto perpetual contract platform Hyperliquid has become a trading center for real-world assets (RWA) such as crude oil and tokenized gold."During most of Sunday, on-chain finance became the center of the global financial market," data shows that Hyperliquid's total trading volume exceeded $11.5 billion over the weekend. Additionally, the 24-hour trading volume of Tether's tokenized gold product, Tether Gold, surged to over $300 million at one point, and the trading volumes on prediction markets Kalshi and Polymarket also saw significant increases.

Bitwise Chief Investment Officer Hougan dismissed various conspiracy theories circulating in the market, including attributing the decline to Binance, Wintermute, offshore macro hedge funds, paper Bitcoin, and the recent claims about Jane Street. He pointed out that the reasons for investor sell-offs include the four-year cycle pattern, concerns about quantum computing, and the shift of funds towards AI startups.He believes that most of the sell-off is nearing its end, and the market is in the process of bottoming out, with Bitcoin set to reach new all-time highs in the future. Hougan described the current situation as a "classic cryptocurrency winter" and believes that it will be followed by a "classic cryptocurrency spring."

According to The Block, Bitwise Chief Investment Officer Matt Hougan pointed out that there may currently be structural valuation errors in crypto assets, primarily due to investors' "anchoring bias," which keeps them focused on old narratives while ignoring the reality that Wall Street is accelerating its shift towards on-chain infrastructure.Hougan emphasized that although the market size for tokenized assets is currently only about $20 billion, the vast scale of traditional financial markets indicates significant growth potential. He cited examples such as BlackRock launching a tokenized government bond fund, JPMorgan issuing deposit tokens on the Base network, and Apollo's tokenized credit fund, arguing that the lagging consensus narrative compared to actual developments provides investors with opportunities to achieve excess returns (Alpha). He suggested that investors should establish broad market exposure to navigate the ongoing structural changes in finance.

Bitwise announced the acquisition of institutional staking service provider Chorus One to expand its staking operations across more than 30 proof-of-stake chains, with the specific acquisition amount not disclosed.Chorus One manages approximately $2.2 billion in staked assets and will be integrated into Bitwise Onchain Solutions, serving institutional investors, family offices, and financial platforms. This acquisition will enhance Bitwise's staking capabilities and research coverage on chains such as Solana, Hyperliquid, Monad, Avalanche, Sui, NEAR, Aptos, Tezos, and TON.The terms of the deal were not disclosed, and about 50 core team members from Chorus One will join Bitwise, with co-founder Brian Crain appointed as an advisor to Bitwise.

According to SoSoValue data, the net inflow for SOL spot ETFs during the last trading week (Eastern Time from February 16 to February 20) was $14.31 million.The SOL spot ETF with the highest net inflow last week was the Bitwise ETF BSOL, with a weekly net inflow of $11.72 million, bringing its historical total net inflow to $694 million. Following that was the Fidelity ETF FSOL, with a weekly net inflow of $1.46 million, currently having a historical total net inflow of $160 million.As of the time of writing, the total net asset value of SOL spot ETFs is $737 million, with an ETF net asset ratio (market value as a percentage of total SOL market value) of 1.53%, and the historical cumulative net inflow has reached $889 million.

According to SoSoValue data, yesterday (Eastern Time, February 20) the total net inflow for the SOL spot ETF was $3.7774 million.The SOL spot ETF with the highest net inflow yesterday was the Bitwise Solana Staking ETF (BSOL), which had a net inflow of $3.0485 million, bringing its historical total net inflow to $694 million.Following that was the Franklin Solana ETF (SOEZ), with a net inflow of $728,900 yesterday, and its historical total net inflow currently stands at $6.7432 million.As of the time of writing, the total net asset value of the SOL spot ETFs is $737 million, with a SOL net asset ratio of 1.53%, and the historical cumulative net inflow has reached $889 million.

According to SoSoValue data, yesterday (Eastern Time, February 19) the total net inflow of SOL spot ETFs was $5.9436 million.The SOL spot ETF with the highest net inflow yesterday was the Bitwise Solana Staking ETF (BSOL), with a net inflow of $5.4618 million, bringing its historical total net inflow to $691 million.Next was the Fidelity Solana Fund ETF (FSOL), with a net inflow of $481.8 thousand, currently having a historical total net inflow of $160 million.As of the time of publication, the total net asset value of SOL spot ETFs is $710 million, with a SOL net asset ratio of 1.52%, and the historical cumulative net inflow has reached $886 million.

According to SoSoValue data, yesterday (Eastern Time, February 19) the total net inflow of XRP spot ETFs was $4.0509 million.The XRP spot ETF with the highest net inflow yesterday was the Bitwise XRP ETF (XRP), with a net inflow of $2.5213 million, bringing its historical total net inflow to $364 million.The second was the Franklin XRP ETF (XRPZ), with a net inflow of $1.5296 million, bringing its historical total net inflow to $330 million.As of the time of publication, the total net asset value of XRP spot ETFs was $1.013 billion, with an XRP net asset ratio of 1.18%, and the historical cumulative net inflow had reached $1.231 billion.