Bitwise Investment Director Matt HouganBefore the completion of the year, Merrill Lynch, Morgan Stanley, Wells Fargo and UBS Bitcoin ETFs foresee that it will start to offer it to its customers. These four institutions manage a total of more than $ 10 trillion customers. According to Hougan, this development Spot Bitcoin ETFIt can double the corporate access to their s. Although the interest of ETFs, including Bitwise’s BITB fund, is below expectations, the table may change in the second half of the year.
Wall Street giants can soon open their doors to ETFs
Although Bitcoin ETFs were launched at the beginning of 2024 in the USA, access to these products was particularly limited to large intermediary institutions. Morgan Stanleyto some highly reserve customers last August Blackrock And Fidelitybegan to allow the Bitcoin ETFs to invest. However, this access was limited to investors with only a taxable portfolio of more than $ 1.5 million. Hougan said that these restrictions are about to be rapidly removed.
According to Hougan Bitcoin ETFThe fact that they are on large investment platforms is like putting a product on the shelf of a giant market. This visibility not only facilitates access to individual and corporate investors, but also increases confidence in the market. Bloomberg analyst Eric Balchunas Da Hougan’la the same view. Balchunas announced that the integration of ETFs into large platforms can rapidly expand the demand for funds.
Belief and corporate transformation will be effective in the future of the market
Hougan, recently organized National Intermediary Institutions ConferenceIn his closing speech, he stressed that the belief in Bitcoin is the biggest decisive factor on the price. Hougan clearly answered “nothing” to the question of an investor participating in the conference, “What if people lose their faith in Bitcoin”. Also this situation gold reminded that it is also valid for other assets.
Hougan, Crypto Money MarketAlthough he acknowledges that it may be difficult to convince investors who have skeptical approach, he underlined that many major players are on the field at the institutional level. Fidelity and Coinbase Marketmakers such as Jane Street and Cumberland/Drw have also played an active role in the market.
Currently 9 out of the world’s 10 largest hedge funds BTC holding. Texas Teacher Pension Fund, Emory University, Ray Dalio and Stan Druckenmiller names such as Bitcoin investors are among the names.
According to Hougan, most of these examples seemed impossible a few years ago. Today US Congressclarified arrangements, Blackrock’s 2 percent Bitcoin allocation advice, and even the USA Strategic Bitcoin Reserve The plan is on the agenda. Hougan believes that this change will convince many people. In his speech, he said, “The person I just met thought, took a deep breath and said, ‘I will take Bitcoin’. I think many people will make the same decision this year”.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
