A renowned wealth management firm with $40 billion in assets under management (AUM) has made a significant investment in Bitcoin through the Bitwise Bitcoin ETF (BITB), according to Bitwise CEO Hunter Horsley. This move reflects the growing interest of institutional investors in the cryptocurrency market. The decision comes after the firm conducted a thorough evaluation and demonstrates a rise in institutional acceptance of digital assets. Meanwhile, Morgan Stanley has allowed its 15,000 advisors to offer Spot Bitcoin ETFs to clients with a minimum of $1.5 million. Despite recent market volatility, these developments indicate a trend towards a potential price of $75,000 for Bitcoin ETFs. The current price of Bitcoin stands at $56,651.59, with a 1.74% increase in the past day and a 14.21% decline in the past week.
