...

An Even Bigger Wave is Expected for Bitcoin ETFs in The Coming Months Bitwise

Facebook
Twitter
LinkedIn
Reddit
Tumblr
An Even Bigger Wave is Expected for Bitcoin ETFs in The Coming Months Bitwise

The remarks made by Bitwise’s CIO Matt Hougan coincide with reports that Wells Fargo and Merrill Lynch of Bank of America have begun to provide spot Bitcoin ETFs to its wealthy clientele.

As soon as the “major wirehouses” start offering Bitcoin (BTC) ETF trading, spot Bitcoin exchange-traded funds (ETF) may see an “even bigger wave” of institutional capital, according to Bitwise.

In an interview with CNBC on February 29, Bitwise’s CIO Matt Hougan stated, “I think there’s an even bigger wave coming in a few months as we start to see the major wirehouses turn on.” He also mentioned that the initial wave of interest in Bitcoin ETFs mainly had come from retail, hedge funds, and independent financial advisors.

Hougan described the ETFs as Bitcoin’s “IPO moment” and predicted the arrival of the next wave of institutional funding.

“With #Bitcoin right now … there is too much demand and not enough supply.” – Bitwise CIO Matt Hougan pic.twitter.com/1B0joUQ1Pp

Saylor, Michael ♡️ (@saylor) February 29, 2024

Remarkably, a Bloomberg article from February 29 claims that two of the biggest wirehouses, Bank of America’s Merrill Lynch and Wells Fargo, have begun to offer spot Bitcoin ETFs to their wealthy clientele.

However, Bloomberg reported, citing people familiar with the situation, that it is now only accessible to customers who request the products.

It is also said that Morgan Stanley is thinking of offering a spot Bitcoin ETF on its brokerage platform.

A “new era of price discovery” has been sparked, according to Hougan, by the Bitcoin ETFs.

Regarding the quantity of Bitcoin ETFs bought to the amount of Bitcoin created daily and the impending halving event, Hougan stated that the supply-demand dynamic is simply “off the hook.”

“There is insufficient supply and excessive demand.”

According to Hougan, the price of Bitcoin may rise “substantially” in response to the next wave of institutional interest.

When asked how high, Hougan suggested that Bitcoin might hit anywhere from $100,000 to $200,000 or even higher, smashing Bitwise’s initial 2024 projection of $80,000 out of the park.

According to BitMEX Research, since the launch of the spot Bitcoin ETFs seven weeks ago, the Bitwise Bitcoin ETF (BITB) has seen the fourth-largest inflow of $1.11 billion.

On February 28, inflows hit a new all-time high of $676.8 million for the ecosystem.

Leading the way with $7.1 billion and $4.7 billion inflows, respectively, are BlackRock’s IBIT and Fidelity’s FBTC.

Bitwise Bitcoin ETF

Conclusion

The emergence of Bitcoin ETFs, especially with Bitwise’s projected surge, is a clear indication of the maturation and growing acceptance of cryptocurrencies within the financial sector. Preparing for and navigating through this wave responsibly will be pivotal for individual and institutional investors alike. Stay informed, diversify your portfolio, carefully choose your investment platforms, and manage your risks. These proactive steps will not only protect your investments but also position you to take advantage of the unprecedented opportunities that the cryptocurrency market, bolstered by Bitcoin ETFs, might soon offer.

MAJOR Listing Date and Estimated Price For 2024 and 2030

Based on the pre-market information shown in the graphic, the MAJOR token has a total quantity of 10 billion tokens and is currently trading at $0.0155. As the project enters

Massive Backlash Against Hamster Kombat Due to Unfair Airdrop

Despite spending a lot of time and energy on the game and being informed at first that keys were not important, players are furious that they are being called cheaters

Trade With A Regulated Broker

M4Markets founders are people who are not just traders themselves, but people who have been in the finance sector for so long that they bring with them a wealth of valuable knowledge.

BlackBull Markets offers the full MetaTrader suite (MetaTrader 4 and MetaTrader 5) alongside multiple social copy trading platforms and a web app powered by TradingView.

Online trading on Exness‘ powerful trading platform with better-than-market conditions on the world’s financial markets and trading .

AvaTrade, we offer a wide variety of platforms for traders of all levels! Be empowered to trade CFDs on FX, Stocks, Commodities, Crypto, Indices.

Being an international broker and working with clients from different countries we understand that every person is unique in his values, no matter whether a trader or a partner.

For more than 13 years, they’ve purpose-built their platform and services to help you trade seamlessly and better capitalize on market opportunities.

Gate.io is the best exchange app. The interface is simple to operate and the customer service is quick. Some interesting activities and benefits are often presented!

FP Markets has developed a proud reputation as a Forex broker. In Australia, the company operates under an Australian Financial Services

Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.