Bitwise CIO Matt Hougan said that institutions managing trillions of dollars are considering adding Bitcoin to their portfolios.

Over 60% of institutional investors in the US are planning to increase Bitcoin exposure, according to recent industry reports.

Major financial firms including pension funds and endowments oversee more than $100 trillion in global assets.

Bitwise reported over $15 billion in assets under management as of early September. Bitcoin is currently valued at around $2.2 trillion by market capitalization.