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Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice
In a weekly memo shared with investors, Hougan announced ongoing due diligence discussions between Bitcoin ETF issuers and major financial and corporate entities. These discussions involve wirehouses, institutional consultants, and large corporations, signaling a growing interest in Bitcoin exposure.
Hougan anticipates substantial investment inflows from these entities in the second quarter, with momentum expected to build throughout the year. This projection highlights the increasing demand for a Bitcoin ETF, driven by a wider acceptance of digital asset products and their potential for diversifying investment portfolios.
Bitwise spot Bitcoin ETF is currently the 4th largest ETF by market cap, and it has been actively preparing for this influx. Hougan revealed that the company held over 20,000 meetings with financial advisors last year in anticipation of regulatory approval. Bitwise spot Bitcoin ETF boasts a competitive fee of 0.20%, though Hougan acknowledges the potential for adjustments as the fund grows in size.
Looking to the future, Hougan revised Bitwise’s 2024 Bitcoin forecast, suggesting the cryptocurrency could surpass $100,000 to reach new all-time highs.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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