- Bitwise CIO, Matt Hougan says Bitcoin ETFs are being adopted at the fastest rate in history.
- Bitcoin ETFs have certainly surpassed significant milestones since their approval and launch.
- Hougan and many other crypto leaders expect institutional adoption to be in its early phases.
Bitwise CIO Matt Hougan says that Bitcoin (BTC) ETFs are being adopted at the fastest rate in history. Specifically, he says that institutions are coming and they’re coming in size meaning that top institutions are adopting Bitcoin (BTC) through BTC ETFs.
In detail, Hougan says that institutes are rapidly adopting Bitcoin (BTC) and are entering the crypto market at a pace never seen before. In particular, these institutions are coming for Bitcoin (BTC) via exchange-traded funds (ETFs).
Bitcoin ETF Approval Ushed Greater Bitcoin Adoption
The launch of Bitcoin ETFs was a huge win for the crypto community in the eyes of many analysts as they saw this move as legitimizing the use of Bitcoin and fueling more capital flow into Bitcoin as a capable investment asset.
On the other hand, other analysts view institutional adoption of Bitcoin and other cryptos as a loss for decentralization as more and more traditional institutions buy big BTC holdings leaving less BTC for smaller investors to hold.
Bitwise CIO Expects More Institutes to Enter the Space
As for Hougan, he believes that institutional adoption of Bitcoin (BTC) is just getting started and expects to see more traditional financial institutions enter the crypto space and embrace greater possibilities via reputed cryptocurrencies like Bitcoin (BTC).
Hougan mentions that institutions have mostly diamond hands meaning they own a large amount of Bitcoin (BTC). Thus, their hope for the asset to hit higher highs is of great interest to them which will ultimately fuel greater bullish sentiment for Bitcoin long-term.
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