Bitwise CIO: Spot Ethereum ETFs Will Gather More Assets If They Launch In December

Key Points:

• Bitwise’s Matt Hougan proposes postponing spot Ethereum ETF approval to December.
• Hougan highlights the necessity for traditional finance to comprehend Bitcoin before venturing into other cryptocurrencies like Ethereum.

Bitwise’s Chief Information Officer, Matt Hougan, expressed his views on the approval timeline for spot Ethereum ETFs during a panel discussion at Blockworks’ Digital Asset Summit in London.

Bitwise CIO Recommends Postponing Spot Ethereum ETFs

Contrary to the prevailing sentiment, Hougan suggested that a delay in the approval of such spot Ethereum ETFs, ideally until December instead of May, could be beneficial. He emphasized the need for Wall Street to familiarize itself with Bitcoin ETFs before expanding into other cryptocurrencies.

Hougan highlighted the evolving landscape of traditional finance’s engagement with cryptocurrencies, noting that the process of understanding and incorporating Bitcoin into investment strategies is still ongoing. He believes that giving Wall Street more time to digest Bitcoin’s complexities could pave the way for a more receptive environment for spot Ethereum ETFs later in the year.

The remarks come amid speculation surrounding the SEC‘s decision on pending spot Ethereum ETF applications, with initial optimism giving way to tempered expectations due to perceived delays in progress.

Bitwise Stays Bullish on Bitcoin Amidst Regulatory Speculation

While Bitwise remains bullish on Bitcoin’s growth trajectory, Hougan acknowledged the cryptocurrency’s decreased volatility over the past decade, signaling a maturing market. This perspective underscores Bitwise’s strategic approach to cryptocurrency investment amidst evolving regulatory and market dynamics.