Crypto News – Crypto-native asset management Bitwise stated that by the end of June, institutions with trillions of dollars worth of assets lined up to purchase spot Bitcoin ETFs.
Bitcoin Purchases Will Increase: Bitwise Says Big Companies Preparing to Buy BTC
In an investment memo distributed to investors on March 9, Bitwise’s chief investment officer, Matt Hougan, stated that the company was having “serious due diligence” talks with big businesses, influential wirehouses, and institutional consultants who wanted to expand their Bitcoin exposure in the upcoming months.
According to Hougan, Bitwise had already verified that a variety of private investors, family offices, hedge funds, and venture capital firms were considering increasing their investments in spot Bitcoin ETFs.
Just as important as who is buying today is who will be buying tomorrow,
Hougan
More ETF Inflows in the Second Half of the Year, Hougan Says
Despite the fact that since its inception, Bitcoin ETFs have already brought in around $9 billion in net inflows, Hougan stated he anticipates an even greater increase in inflows into the ten authorized spot Bitcoin ETF products as the year’s second half approaches. Hougan has previously stated that he is optimistic about Bitcoin ETFs. He predicted on February 29 that institutional capital would pour into the goods at an even greater rate, which would drive up the price of Bitcoin significantly.
These are massive categories representing trillions of dollars in assets. Based on current trends, I’d suspect we’ll see our first significant flows from these three groups in Q2 2024, and I think those flows will accelerate throughout the year as these investors become more comfortable with the new products.
Hougan
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