Get the scoop on finance - sign up for mobile alerts
Categories: Bitcoin
| On
July 25, 2024

‘We’ve Entered the ETF Era of Crypto’: Bitwise CIO Matt Hougan Says ETFs on Multiple Digital Assets Coming

By Rhodilee Jean Dolor

The chief investment officer (CIO) of digital asset management titan Bitwise is expecting to see more crypto-based exchange-traded funds (ETFs) in the market.

In an interview on Bloomberg Television, Matt Hougan shares his optimism for the “ETF era of crypto” following the launch of the Bitwise Ethereum (ETH) ETF.

ADVERTISEMENT

He says the financial product saw impressive numbers and exceeded expectations on its first trading day.

“We had about half a billion dollars traded in these new ETFs. By comparison, the average ETF trades about a million on its launch day, so it’s shaping up to be the second most successful ETF launch of all time after, of course, the Bitcoin ETFs.”

Hougan says that the Bitcoin (BTC) and Ethereum ETF launches show that exchange-traded funds work for the asset class.

“They lower costs, they raise protections and investors want them.”

ADVERTISEMENT

Asset managers 21Shares and Vaneck have already filed applications to offer Solana (SOL)-based ETFs. Hougan says that there will likely be a wide array of crypto exchange-traded funds in the next one to two years.

“Long term, as we look into 2025, we’ve entered the ETF era of crypto. We’re going to see ETFs on multiple crypto assets. We’re going to see index based ETFs. You’ve already seen firms filing for Solana, ETFs.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3