Bitwise chief investment officer Matt Hougan said in a podcast that with the participation of large institutions such as BlackRock and Invesco, people’s doubts and fears about the crypto industry are beginning to shift. “In two or three years, there won’t be any congressional hearings (questioning cryptocurrencies). People will just be talking about how much more efficient this makes the market.”
Hougan said the market has reached a tipping point and is now ready for a spot Bitcoin ETF: “You can monitor the CME Bitcoin futures market. Companies like BlackRock are looking to enter into monitoring sharing agreements with Coinbase.”
He said: “Compared to 2013, or even when we started promoting spot Bitcoin ETFs in 2018 and 2019, the market is much more institutional now. The market has come a long way, I think Those concerns about manipulation have now been resolved. We will see in the coming months whether (the SEC) approves (a spot Bitcoin ETF).” (Blockworks)