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Bitwise Chief Investment Officer Matthew Hougan stated that institutional investors could gradually channel up to $1 trillion into Bitcoin through exchange-traded funds (ETFs). In a note to investment experts, Hougan addressed concerns about Bitcoin’s price volatility. While the asset fluctuates between $60,000 and $70,000, the executive suggested that the best approach is to remain calm and think long-term.
What to Expect in the Crypto Industry?
Although prices appear unstable in the short term, Hougan highlighted several significant events to eagerly anticipate in the coming months and years. These include Bitcoin’s halving event and the approval of spot Bitcoin ETFs on national account platforms like Morgan Stanley or Wells Fargo.
The executive also emphasized that investment committees and advisors must make official assessments about Bitcoin. This is a necessary step before investing in the asset.
Hougan mentioned that while the sector awaits these significant events, small changes in sentiment may cause Bitcoin prices to move sideways; however, the investment officer believes things will be different in the long run. Hougan shared his thoughts on the matter:
“However, in the long run, we believe Bitcoin is in a bull market. It has not only increased by about 300% in just the last 15 months but also there are strong reasons to believe this will continue.”
Striking Statements from Hougan
Hougan believes that the spot Bitcoin ETF approvals that took place in January have opened up crypto to investment professionals with significant momentum. He also thinks that investment professionals, who control trillions of dollars, are just beginning to transition into crypto. Hougan emphasized that attracting more professional investors will take years, not months.
The executive also found the $12 billion that has flowed into ETF funds since their launch exciting and called it the most successful ETF launch of all time. Moreover, he believes that when global asset managers start allocating 1% of their portfolios to Bitcoin, it will mean an influx of $1 trillion into the space:
“A 1% allocation across the board would mean an influx of $1 trillion into the space. In contrast, $12 billion is just a down payment.”
