Bitwise CIO Announces the Great Support He Expects for Spot Bitcoin ETFs! “In Just a Few Weeks…”

SEC, which is undoubtedly one of the most important events of 2024 spot Bitcoin ETFto approve of BTC It enabled a new ATH to come in its price.

Because the strong demand for ETFs allowed the BTC price to exceed the previous ATH of $ 69,000 and reach the new ATH.

Although the BTC price has currently experienced a significant correction due to outflows in spot Bitcoin ETFs, analysts think that the strong demand and inflows into spot Bitcoin ETFs will continue throughout the year.

Speaking at the Digital Asset Conference in London Bitwise CIO Matt Hougan made new statements about spot Bitcoin ETFs and emphasized the importance of banks supporting the adoption of Bitcoin ETFs.

At this point, Hougan argued that although no major banks currently support BTC ETFs, the first bank support could come in a few weeks.

“While no major banks have supported spot Bitcoin ETFs to date, the first major bank support is likely a few weeks away. Maybe only a week left.

And in a few months, ETF support will come from all major banks.”

ETFs and banks’ support BTC Pointing out that it is important for the price, Hougan said that banks’ ETF support is a gateway that must be passed so that most of the rich in the USA can invest in newly launched ETF products.

According to Bitwise CIO, major banks’ support for ETFs could increase the availability of Bitcoin ETFs by approximately fourfold and, along with the inflow of new capital, could have a positive impact on the BTC price.

*This is not investment advice.