The approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) could trigger a significant surge in the crypto’s value, akin to gold’s post-ETF rally, according to Matt Hougan, Chief Investment Officer at Bitwise.
Hougan made his remarks during an interview with Thinking Crypto on Tuesday, drawing parallels between Bitcoin’s potential future and gold’s history.
Bitwise is among several firms that have submitted a spot Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC).
“The Bitcoin ETF matters as it would unlock a significant market segment that currently has no crypto allocation, specifically the financial advisor marketplace,” Hougan stated. He highlighted that this market is at least double, possibly four times larger than self-directed retail investors.
Bitwise is proactively laying the groundwork for these advisors to readily adopt the ETF upon its launch, with a dedicated sales team actively educating them about Bitcoin and its potential place in their portfolio.
Hougan added, “We’re seeing real traction. There are a lot of advisors who want to allocate ahead of the Bitcoin ETF.”
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