Bitwise CIO Predicts Major Institutional Investment in Crypto ETFs This Year
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, predicts significant investment is heading into the cryptocurrency sector.
In a recent interview on the Wolf of All Streets channel, Hougan highlighted that spot Bitcoin (BTC) and Ethereum (ETH) ETFs are poised to attract substantial inflows in the coming months.
He suggested that the third and fourth quarters will see a resurgence in ETF investments following a strong start in January and a slowdown in the second quarter.
Hougan expects major Wall Street firms, including Morgan Stanley, Wells Fargo, Merrill Lynch, and UBS, to begin investing in spot crypto ETFs by late Q3 and into Q4 of 2024. He believes this could bring significant assets into the market, potentially unlocking trillions of dollars.
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While retail investors have already been able to invest in these ETFs following approval by the U.S. Securities and Exchange Commission (SEC), institutional investors face a longer process, requiring approval from both the SEC and their respective firms before investing.
Hougan estimates that currently, only about 30% of the market has access to these ETFs, but the remaining 70% is expected to come online soon, which could greatly impact the sector.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
