In a recent roundtable discussion, Bitwise Asset Management’s Chief Investment Officer Matt Hougan expressed confidence in the final approval of Ethereum ETFs.
“Whether we get approval in May or later, we’ve shown that the ETF costs less to launch and provides better protections for investors looking to access this asset class, so it’s not a matter of if but when an Ethereum ETF will happen,” Hougan said. “I think it is,” he said.
Bitwise has already launched a spot bitcoin ETF and has also filed for a spot Ethereum ETF. The firm is optimistic about the future of cryptocurrency ETFs, and Hougan said, “We’ve entered the era of ETFs for crypto, you’re going to use this great product to give people what they want.”
However, in his recent statement, Hougan said that a 1% allocation to ETFs across the industry would mean $1 trillion inflow into the cryptocurrency space.
ProShares Head of Investment Strategy Simeon Hyman echoed these sentiments, predicting that the market will eventually expand to include other cryptocurrencies. “I can’t imagine that there won’t be several other cryptocurrency ETFs emerging at a scale and size that we can all participate in. It has to happen,” he said.
*This is not investment advice.
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