Bitwise Swallows $1.8 Billion in Bear Market Despite Crypto Prices Falling

Bitwise Asset Management took in over $1.8 billion of new money in the first half of this year, despite the ongoing bear market. Chief executive Hunter Horsley announced the figure on Sunday.

The net inflows measure the amount of new money put into Bitwise products minus the money pulled out, and it's a significant achievement for the company. Tom Lee, co-founder and head of research at Fundstrat Global Advisors, commented that it was an outstanding result.

Lee has remained bullish throughout the market slump, and he lauded Bitwise for growing significantly despite the challenging conditions. The four main Bitwise product lines that drew over $100 million each were ETFs and ETPs, private strategies, staking, and Vaults.