Bitwise executives have confidential information about the major financial players investing in BTC — but they won't identify which ones.

During an interview published Tuesday, Hunter Horsley, CEO of Bitwise, discussed how institutional and regulatory acceptance of Bitcoin as an investable asset is evolving faster behind the scenes than most people realize.

Secret bitcoin buyers

For example, Horsley confirmed what he alluded to in an earlier article tweet: That a certain country's sovereign wealth fund has already forayed into Bitcoin mining.

“The great element about this moment is that there are a lot of important investors, companies, and businesses moving into Bitcoin, but a lot of them want to fly under the radar for now,” Horsley said. to explain.

Horsley also eluded a “large technology company” that has invested a “significant percentage” of its balance sheet in the Bitwise Bitcoin ETF, which now has $2.3 billion in assets under management. This company wants to remain secretive about its purchase.

He continued: “If people knew, I think it would be really impactful and help people see that the world is moving in one direction, and that it is moving faster and farther than a lot of people realize.”

The public got a partial look at institutions that were buying Bitcoin ETFs earlier this month, as several high-net-worth investors disclosed their first-quarter stock portfolios in mandatory 13F filings with federal regulators. Some of them included a $2 billion allocation from heavyweight hedge fund Millennium Management and a $162 million allocation from the Wisconsin State Investment Board (SWIB).

How quickly can companies buy Bitcoin?

Horsley predicted that by next year, a tech giant like Meta might have Bitcoin on its balance sheet, thanks to ETFs that make holding assets much easier.

He claimed that the next catalyst for a Bitcoin bull market will be when the public realizes “the extent to which some of the most important and smartest organizations and regulators have joined Bitcoin.”

“When we get those ads, and people see them… that will allow things to move much faster than in the past when there were fewer examples,” he concluded.

In a note last week, Matt Hogan, IT director at Bitwise, said the recent wave of 13F filings made him “incredibly bullish” on Bitcoin ETFs, since the latest buyers still have plenty of room to increase their allocations.