Matt Hougan, chief investment officer of Bitwise Asset Management and Bitwise Asset Management’s CIO, says that “big money is coming” into the cryptocurrency space.
Hougan, in a recent interview with the Wolf of All Streets Channel, says spot Bitcoin (BTC), and Ethereum (ETH), exchange-traded fund (ETF) will likely see massive inflows during the next few months.
I think that people should keep an eye on the Q3 and Q4 in regards to these ETFs. The Bitcoin ETF exploded out of the gates in January. We’ve seen flows slowing down in Q2, but they are still coming, and we have witnessed the launch of the Ethereum ETF.
“But I think that the biggest story for the second half is going to be the reacceleration of flows.”
The Bitwise CIO has stated that Wall Street giants like Morgan Stanley, Wells Fargo Merrill Lynch, and UBS will start investing in spot crypto ETFs by the end of third quarter this year, as well as the fourth quarter 2024.
I think it’s going be a big deal.” It’s going be big .”
Hougan says while institutional investors such as Wall Street Banks tend to take longer to invest in Bitcoin and Ethereum spot ETFs, as retail investors can do as soon as the U.S. Securities and Exchange Commission approves them.
These advisers and wealth managers who work for large platforms such as Morgan Stanley cannot buy ETFs until Morgan Stanley approves them. It’s like there are two switches that need to be turned on, at Morgan Stanley and at the SEC.
This is where the majority of money is. The ETFs are already the best-selling ETF launch in history, and they can be accessed by 30% of the current market, but 70% of it is still coming on line. My best guess is that it will be online soon. .”
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