Trillion-Dollar Bank Clears Bitwise Crypto ETF for Wealth Advisors, Accelerating Mainstream Adoption

A leading global bank, managing over $1 trillion in wealth management assets, has approved a Bitwise crypto exchange-traded fund (ETF) for use by its advisors in managed accounts. This significant development, announced by Bitwise CEO Hunter Horsley on social media, marks a pivotal moment for integrating digital assets into traditional financial portfolios. The bank's identity remains undisclosed, though its substantial assets under management underscore the growing institutional confidence in cryptocurrency investment products.

Bitwise Asset Management, founded in 2017 and headquartered in San Francisco, has established itself as the world's largest crypto index fund manager. The firm's sole focus on cryptocurrency has led to a diverse offering of over 20 products, including ETFs, publicly traded trusts, and private funds, providing investors with various avenues to gain exposure to the digital asset space. This latest approval further solidifies Bitwise's position at the forefront of institutional crypto adoption.

The move represents a notable shift from self-directed crypto investing towards mainstream wealth management, catering to high-net-worth individuals and institutional clients. Industry experts have long anticipated that major financial institutions, often referred to as wirehouses, would eventually open their platforms to crypto ETFs. This approval is expected to pave the way for more traditional financial institutions to follow suit, expanding access to crypto investments for a broader range of clients.

The regulatory environment is also evolving to support this trend. On July 1, 2025, the U.S. Securities and Exchange Commission (SEC) issued comprehensive guidance aimed at streamlining the crypto ETF approval process. Bitwise CIO Matt Hougan noted that the existence of this guidance suggests the SEC acknowledges "that crypto ETPs are becoming part of the mainstream." This regulatory clarity, combined with increasing institutional demand, is fostering a more structured and accessible market for digital assets.

Following the approval, Hunter Horsley expressed enthusiasm for the next phase, stating in his tweet:

"Now the work begins to support 1000s of advisors building their thesis on crypto. Work we love doing. 2025 is the start of the mainstream era." This sentiment reflects a broader industry outlook that anticipates accelerated institutional and corporate investment in crypto. Analysts predict record inflows into crypto ETFs throughout 2025, with Bitwise forecasting substantial growth as more wealth management platforms embrace digital asset offerings.