Cryptocurrency fund manager Bitwise says there are billions of dollars worth of institutional funds preparing to flow into Bitcoin (BTC).
Bitwise chief investment officer Matt Hougan In his statement to CNBC, he stated that there are still huge actors waiting to enter the cryptocurrency market.
Current demand is largely individual from investors, from hedge funds And from independent financial advisors Hougan emphasized that the money entering the sector will increase as larger US brokerage firms become involved in spot Bitcoin exchange-traded funds (ETFs):
I think an even bigger wave will come in a few months with the involvement of large brokerage firms.
Stating that these fund inflows may not occur immediately, Matt Hougan said that there will be a change in the coming period in terms of both money inflow and Bitcoin price. consolidation period It reminded me that it could happen.
BlackRock And Fidelity Spot Bitcoin ETFs offered by 11 companies, including, managed to collect $ 7 billion just 1 month after they were launched.