Matt Hougan, Bitwise’s CIO suggests spot Ethereum ETFs could attract more assets if launched after May.
“I’ll take a maybe controversial view: I hope we don’t get an Ethereum ETF in May,” said Hougan during a panel discussion on Bitcoin ETFs At the moment, Digital Asset Conference London. “I actually sort of want it to be later.”
Hougan’s attitude is different from his initial optimism regarding the SEC’s decision in May on the first spot Ether applications that were pending.
Although initial expectations were very high, more recent evaluations suggest that the outlook is tempered. May launch a perceived stagnation of progress. Hougan suggested a delay and said that the launch of spot Ether ETFs In December, it may be more advantageous to do so.
Bitwise CIO explained that Wall Street, traditional finance and other institutions need more time to grasp how complex the Bitwise platform is. cryptocurrency Ethereum’s market would be more open to Ethereum if Bitcoin was widely accepted.ETHThe ETF is a separate entity.
“Wall Street and traditional finance just started ingesting this giant thing called Bitcoin, and they’re just getting their hands around it,” He noted. “And I think you need to give them longer to digest.”
Hougan estimated it would take Wall Street between eight and nine months to become accustomed to Bitcoin.BTCBefore considering any other ETF.
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Source: crypto.news
