Hunter Horsley, the co-founder and CEO of asset manager Bitwise, recently announced a notable inflow from Bitwise spot Bitcoin ETF Trust (BITB).. With an additional $68 million influx and subsequent Bitcoin purchases, as reported by Horsley, the Bitwise spot ETF has climbed to the top spot of exchange-traded funds (ETFs) launched in 2023. This achievement marks a four-day inflow of $370 million into BITB.. Related Reading: Bitcoin ETF On The Verge Of Approval? Bitwise’s Latest Ad Suggests Impending Deadline Success. Nate Geraci, President of the ETF Store, noted BITB’s ascent. According to Geraci, with Assets Under Management (AUM) reaching $355 million, BITB ranks within the top 25 of the over 540 ETFs launched last year by AUM.. The Ripple Effect Of SEC’s Approval On Spot Bitcoin ETFs. The United States Securities and Exchange Commission’s (SEC) recent approval of spot Bitcoin ETFs has been a significant development for the industry.. According to Bloomberg ETF analyst Eric Balchunas, on their debut day, these spot ETFs outperformed 500 other ETFs launched in 2023, pulling in a total volume of $1.8 billion compared to $450 million by others.. The market’s response to these new spot ETFs has also been positive. Bloomberg Intelligence analyst James Seyffart revealed that the cumulative trading volume for the newly launched spot Bitcoin ETF products hit the $10 billion mark within three days.. In the lineup of recently introduced spot ETFs, BITB stands out, securing the third position in assets under management (AUM). It follows BlackRock’s iShares Bitcoin Trust (IBIT), which leads with an AUM exceeding $1 billion, and Fidelity’s FBTC, which holds second place with an AUM of over $800 million.. Spot Bitcoin ETF Ranking by AUM (without GBTC). | Source: SproutFinance. Ethereum Could Outperform Bitcoin – Bitwise CIO’s. While Bitwise’s involvement in Bitcoin is evident through BITB, the company’s Chief Information Officer, Matt Hougan, has recently shared insights on another major cryptocurrency: Ethereum (ETH). Hougan outlines five reasons Ethereum could be a more “attractive” investment than Bitcoin.. Leading with Ethereum’s role as a global computing platform, he envisions a future where Ethereum “redefines the financial and creative sectors.” Hougan emphasizes Ethereum’s unique economic model, where ETH’s value increases with network usage.. This model ensures that “increased activity on the network directly benefits ETH holders,” similar to traditional financial mechanisms like buybacks and dividends. Furthermore, according to Hougan, Ethereum’s ecosystem, populated with a wide range of applications and developers, makes it a “hotbed for the next big crypto breakthroughs.”. Adding to Ethereum’s appeal is its “growing acceptance and integration into mainstream business operations.” Hougan cites examples like Nike’s significant revenue from digital goods on Ethereum, PayPal’s payment solutions, and Goldman Sachs’ bond settlements on the platform.. Related Reading: Bitwise CIO Positions Ethereum As Leading Investment Over Bitcoin: Here’s Why. Lastly, the Bitwise Chief Information Officer sees Ethereum as the likely home for tokenized real-world assets in the crypto ecosystem, highlighting its potential to “revolutionize asset tokenization.”. BTC price is moving sideways on the 1-hour chart. Source: BTC/USDT on TradingView.com. Featured image from Unsplash, Chart from TradingView