Bitwise CIO Matt Hougan said that the event that could change the fate of spot Bitcoin ETFs might be just a few weeks away.
Bitwise CIO Matt Hougan spoke about spot Bitcoin exchange-traded funds (ETFs) at the Digital Asset Conference in London, stating that no major U.S. brokerage firm has entered the spot Bitcoin ETF business yet, and it is a major gap, saying that everything could change in the next few weeks.
Brokerage firms that have not yet gained access to spot Bitcoin ETFs and are awaiting approval control trillions of dollars in assets. It is believed that the upcoming approval for this group will add another dimension to cash flows into the spot Bitcoin ETF.
Reminding the CIO of the serious impact of brokerage firms entering the Bitcoin business, he said that the first approval could be 1 week away and that within the next 1 month all brokerage firms could be involved in this area:
We are probably a few weeks away from the first of these big storehouses signing on. Maybe a week away. I think within a couple of months they’ll all be at the place where they can do this. It’s like putting a product on the shelf at Whole Foods or a big grocery store. That type of display and availability is definitely going to help Bitcoin.
