In a recent post on social media platform X, Bitwise Asset Management's CEO, Hunter Horsley, shared his thoughts on the future of Bitcoin ETF adoption among wealth management firms. Horsley expects a significant increase in the use of US-listed spot Bitcoin ETFs by the end of 2024, surprising many in the investment world.

He pointed out that wealth management firms are getting more interested in Bitcoin and see it as a valuable investment. This shift from curiosity to serious consideration is important, indicating a growing belief in Bitcoin's long-term potential. These firms typically plan to hold onto Bitcoin for the long haul, rather than making quick bets on its price.

Horsley believes we're only midway through the journey of Bitcoin adoption among wealth managers, estimating that only about 15% of firms have adopted it so far. However, he predicts this could rise to 40% soon, as more firms follow the lead of early adopters.

According to Bitwise's Chief Investment Officer, Matt Hougan, it's essential for investment professionals to maintain a calm perspective amidst Bitcoin's price swings. He advises focusing on long-term trends and upcoming events, like the recent Bitcoin halving and the potential approval of US-listed spot Bitcoin ETFs by major platforms.

Hougan emphasized the careful approach many investment professionals are taking towards Bitcoin, including thorough research and expert consultations. He sees significant potential for Bitcoin to become a standard part of investment portfolios, especially if just a small fraction of global wealth managers allocate funds to it.

In conclusion, Bitwise's CEO and Chief Investment Officer are optimistic about the future of Bitcoin ETF adoption among wealth management firms. They see it as a gradual process driven by growing belief in Bitcoin's potential and careful consideration by investment professionals.