Bitwise’s CIO Matt Hougan’s comments come as Bank of America’s Merrill Lynch and Wells Fargo reportedly started offering spot Bitcoin ETFs to its wealth clients.
Spot Bitcoin exchange-traded funds (ETF) could soon see an “even bigger wave” of institutional capital once the “major wirehouses” offer Bitcoin (BTC) ETF trades, according to Bitwise.
“I think there’s an even bigger wave coming in a few months as we start to see the major wirehouses turn on,” Bitwise’s CIO Matt Hougan explained in a Feb. 29 interview with CNBC, adding that the first wave of Bitcoin ETF interest has primarily come from retail, hedge funds and independent financial advisors.
“So we’re going to see the next wave of institutional capital coming,” said Hougan, who referred to the ETFs as Bitcoin’s “IPO moment.”
