TechFlow News — According to CoinDesk, Matt Hougan, Chief Investment Officer at Bitwise Asset Management, said in a recent interview: “The impact of the (spot) Bitcoin ETF hasn't been priced into the market because those who intend to buy this ETF don’t know it’s coming—or even likely to come. Most advisors, who represent the natural audience for BTC ETFs, expect it no earlier than 2025 or later. If investors planning to buy this ETF believe it won’t be approved within the next two months, I don’t see how its impact could already be reflected in the market.”
Hougan believes the ETF will play a critical role in opening crypto investment to a broader base of investors, particularly financial advisors who manage the majority of wealth in the U.S. Currently, cryptocurrencies have been purchased by 20% of self-directed retail investors, but 80% of U.S. wealth is controlled by financial advisors and institutions that require an ETF to gain exposure to crypto.
