The head of Bitwise on the prospects for the development of cryptocurrency ETFs
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Johny Smith
2024/11/03
3 mins read
Bitwise Asset Management launched spot funds for Bitcoin and Ethereum this year. It should be noted that the organization’s investment products showed good results. Bitcoin-ETF raised about $1.2 billion in 9 months. At the same time, the fund on Ethereum received $250 million from investors in 84 days. Recently, the head of Bitwise Asset Management, Matt Hougan, commented on the prospects for the development of cryptocurrency funds.
According to him, the global financial community has just entered the era of ETFs. This means that more and more large investors will include digital assets in their portfolios. It is worth noting that a week ago, Bitwise Asset Management filed an application to convert a number of its own futures ETFs into strategic funds.
Matt Hougan also spoke about the main altcoin. He noted that many people think Ethereum outdated technology, but users lose sight of the overall market context. The fact is that most stablecoins were issued on the network of the main altcoin. BlackRock’s BUILD fund and Ondo’s DeFi protocol are also built on the Ether blockchain. The same applies to popular decentralized platforms like Uniswap And Ghost.
Hougan also shared his opinion about the upcoming elections in the United States. According to him, in this context the situation has never been clear. “The point is not at all whether Washington supports cryptocurrencies or is against them. Politicians can be both openly hostile and ardently supportive of digital coins,” the expert emphasized.
Donald Trump is considered a more favorable candidate for the cryptocurrency segment. However, Matt Hougan believes that even if Kamala Harris wins, nothing extraordinary will happen. At the same time, the situation will not change globally even if its administration does not clearly support the digital assets segment.
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