{"id":597429,"date":"2024-03-12T09:05:59","date_gmt":"2024-03-12T09:05:59","guid":{"rendered":"https:\/\/ktsl888.com\/?p=597429"},"modified":"2024-06-11T07:05:03","modified_gmt":"2024-06-11T07:05:03","slug":"bitcoin-etf-floodgates-just-opening-bitwise-cio","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-etf-floodgates-just-opening-bitwise-cio\/","title":{"rendered":"Bitcoin ETF &#8216;Floodgates&#8217; Are Just Opening, Says Bitwise CIO Amid $72,000 Surge"},"content":{"rendered":"<p>In a recent appearance on CNBC&#8217;s &#8216;<a href=\"https:\/\/youtu.be\/Q_c2zOl5lbc?si=GE8zyq9FhP_RbKl0\" target=\"_blank\" rel=\"noopener nofollow\">Halftime Report<\/a>,&#8217; Matt Hougan, Chief Investment Officer (CIO) of Bitwise Asset Management, shared insights into the burgeoning interest and adoption of spot Bitcoin Exchange-Traded Funds (ETFs). This discussion comes at a time when BTC has shattered expectations,<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-skyrockets-past-71000-heres-why\/\" target=\"_blank\" rel=\"noopener \"> reaching a new all-time high<\/a> of nearly $72,500.<\/p>\n<h2>Bitcoin ETF \u2018Floodgates\u2019 Are Just Opening<\/h2>\n<p>Bob Pisani of CNBC highlighted the unprecedented influx of approximately $20 billion into the market following the mid-January launch of 10 new spot Bitcoin ETFs, including $1.3 Billion in <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitwise-ceo-bitcoin-250000\/\" target=\"_blank\" rel=\"noopener \">Bitwise<\/a>&#8216;s own BITB. This move has significantly broadened the investor base for Bitcoin, attracting a diverse group ranging from retail investors and registered investment advisors to hedge funds and venture capital funds.<\/p>\n<p>According to Hougan, &#8220;It&#8217;s sort of everyone everywhere all at once,&#8221; indicating a widespread and multifaceted demand for BTC exposure through these ETFs. He further revealed that \u201cright out of the gate, the initial buyers are retail investors, registered investment advisors, but we&#8217;re also seeing hedge funds, venture capital funds, and others lining up.\u201d<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-skyrockets-past-71000-heres-why\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Skyrockets Past $71,000: 4 Key Reasons<\/a><\/div>\n<p>Crucially, Hougan pinpointed the near-future potential for a significant expansion in the investor base for Bitcoin ETFs. He foresees major wealth management platforms \u2014 the likes of Morgan Stanley and Wells Fargo \u2014 opening up to these ETFs, which would mark a pivotal moment in cryptocurrency investment.<\/p>\n<p>&#8220;Soon, we think we&#8217;ll unlock major wealth management platforms, the <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/morgan-stanley-58000-bitcoin-shares\/\" target=\"_blank\" rel=\"noopener \">Morgan Stanley<\/a>&#8216;s and Wells Fargo&#8217;s, and we&#8217;re even seeing corporations lining up to get into these funds. So a lot of the floodgates are open, not all of them,&#8221; he explained. This anticipated shift is expected to unlock &#8220;massive flows&#8221; into Bitcoin ETFs, as advisors on these platforms may soon begin recommending Bitcoin exposure to their clients.<\/p>\n<p>\u201cBut we think in the next weeks or months, and it could be as soon as weeks, you&#8217;ll start to see these major wirehouses allow solicited investing into these Bitcoin ETFs means that the advisors can suggest to their clients that it might be helpful for their overall portfolio to add a small amount of Bitcoin exposure,\u201d Hougan added.<\/p>\n<h2>ETF Buyers Are Long-Term Investors<\/h2>\n<p>Hougan&#8217;s statements underline a critical evolution in the perception and accessibility of Bitcoin as an investment vehicle. The broadening investor base, initially dominated by retail and institutional investors, is on the cusp of welcoming major wealth management platforms and their clientele into the fold.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/the-price-peak-puzzle-unraveling-the-timing-of-bitcoin-bull-market-peak\/\" target=\"_blank\" rel=\"noopener \">The Price Peak Puzzle: Unraveling The Timing Of Bitcoin Bull Market Peak<\/a><\/div>\n<p>This transition, according to Hougan, could significantly amplify the capital flowing into Bitcoin ETFs, thereby increasing BTC&#8217;s integration into mainstream investment portfolios.<\/p>\n<p>Addressing concerns about the notorious volatility of BTC, Hougan argued that Bitcoin is &#8220;its own asset&#8221; currently in a phase of price discovery. He stressed the maturity of investors in this space, saying, &#8220;if you strip out GBTC&#8230;investors added exposure when the price went from $50,000 down to $39,000, and they&#8217;ve added exposure as it&#8217;s gone up to $72,000.&#8221;<\/p>\n<p>This steady investment behavior, even in the face of volatility, indicates a strong belief in the long-term value of Bitcoin. \u201cThey&#8217;re just steadily adding to Bitcoin exposure and that gives me confidence that they&#8217;re here to stay. I think most of them are long-term investors in the space,\u201d Hougan concluded.<\/p>\n<p>At press time, BTC traded at $71,597.<\/p>\n<figure id=\"attachment_597435\" aria-describedby=\"caption-attachment-597435\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-597435 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?resize=3628%2C1673\" alt=\"Bitcoin price\" width=\"3628\" height=\"1673\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=3628 3628w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=1140 1140w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/BTCUSD_2024-03-12_09-15-21.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-597435\" class=\"wp-caption-text\">BTC price, 1-hour chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/mCvsRCF3\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with DALL E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a recent appearance on CNBC&#8217;s &#8216;Halftime Report,&#8217; Matt Hougan, Chief Investment Officer (CIO) of Bitwise Asset Management, shared insights into the burgeoning interest and adoption of spot Bitcoin Exchange-Traded Funds (ETFs). This discussion comes at a time when BTC has shattered expectations, reaching a new all-time high of nearly $72,500. Bitcoin ETF \u2018Floodgates\u2019 Are Just Opening Bob Pisani of CNBC highlighted the unprecedented influx of approximately $20 billion into the market following the mid-January launch of 10 new spot Bitcoin ETFs, including $1.3 Billion in Bitwise&#8216;s own BITB. This move has significantly broadened the investor base for Bitcoin, attracting a diverse group ranging from retail investors and registered investment advisors to hedge funds and venture capital funds. According to Hougan, &#8220;It&#8217;s sort of everyone everywhere all at once,&#8221; indicating a widespread and multifaceted demand for BTC exposure through these ETFs. He further revealed that \u201cright out of the gate, the initial buyers are retail investors, registered investment advisors, but we&#8217;re also seeing hedge funds, venture capital funds, and others lining up.\u201d Related Reading: Bitcoin Price Skyrockets Past $71,000: 4 Key Reasons Crucially, Hougan pinpointed the near-future potential for a significant expansion in the investor base for Bitcoin ETFs. He foresees major wealth management platforms \u2014 the likes of Morgan Stanley and Wells Fargo \u2014 opening up to these ETFs, which would mark a pivotal moment in cryptocurrency investment. &#8220;Soon, we think we&#8217;ll unlock major wealth management platforms, the Morgan Stanley&#8216;s and Wells Fargo&#8217;s, and we&#8217;re even seeing corporations lining up to get into these funds. So a lot of the floodgates are open, not all of them,&#8221; he explained. This anticipated shift is expected to unlock &#8220;massive flows&#8221; into Bitcoin ETFs, as advisors on these platforms may soon begin recommending Bitcoin exposure to their clients. \u201cBut we think in the next weeks or months, and it could be as soon as weeks, you&#8217;ll start to see these major wirehouses allow solicited investing into these Bitcoin ETFs means that the advisors can suggest to their clients that it might be helpful for their overall portfolio to add a small amount of Bitcoin exposure,\u201d Hougan added. ETF Buyers Are Long-Term Investors Hougan&#8217;s statements underline a critical evolution in the perception and accessibility of Bitcoin as an investment vehicle. The broadening investor base, initially dominated by retail and institutional investors, is on the cusp of welcoming major wealth management platforms and their clientele into the fold. Related Reading: The Price Peak Puzzle: Unraveling The Timing Of Bitcoin Bull Market Peak This transition, according to Hougan, could significantly amplify the capital flowing into Bitcoin ETFs, thereby increasing BTC&#8217;s integration into mainstream investment portfolios. Addressing concerns about the notorious volatility of BTC, Hougan argued that Bitcoin is &#8220;its own asset&#8221; currently in a phase of price discovery. He stressed the maturity of investors in this space, saying, &#8220;if you strip out GBTC&#8230;investors added exposure when the price went from $50,000 down to $39,000, and they&#8217;ve added exposure as it&#8217;s gone up to $72,000.&#8221; This steady investment behavior, even in the face of volatility, indicates a strong belief in the long-term value of Bitcoin. \u201cThey&#8217;re just steadily adding to Bitcoin exposure and that gives me confidence that they&#8217;re here to stay. I think most of them are long-term investors in the space,\u201d Hougan concluded. At press time, BTC traded at $71,597. Featured image created with DALL E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":597456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,532,679,1119,1122,89583],"class_list":["post-597429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-price","tag-btc","tag-btc-price","tag-spot-bitcoin-etfs"],"acf":[],"yoast_head":"\n<title>Bitcoin ETF &#039;Floodgates&#039; Are Just Opening: Bitwise CIO<\/title>\n<meta name=\"description\" content=\"Matt Hougan, CIO of Bitwise, shared insights into the burgeoning interest and adoption of spot Bitcoin Exchange-Traded Funds (ETFs).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-etf-floodgates-just-opening-bitwise-cio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETF &#039;Floodgates&#039; 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