April 18, 2024

The Bitwise Asset Management’s CIO, Matt Hougan, recently made a statement concerning why a Bitcoin ETF would be getting approved by the regulatory body later in 2022.

Matt Hougan’s Interview Concerning the Coming of Bitcoin ETF

During an interview Bitwise CIO had with CNBC’s ETF Edge, he expressed optimism that the United States SEC would have to approve a Bitcoin ETF before 2022 runs out. Hougan maintained that there wasn’t any significant distinction in the likelihood of theft among BTC and the other assets, claiming that every exchange has “definitely cases of scam and exploitation.

According to The Daily Hodl, Hougan stated that he doesn’t believe that they’re substantially the worst in the BTC marketplace, but suppose a similar standard get applied to silver, oil, gold, natural gas, and other goods, ETFs in those goods have been launched, but suppose a similar standard gets applied to BTC and other cryptocurrency assets, ETFs will be launched as well.

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The content of Bitcoin ETF submissions has “developed considerably” in the last year, according to Hougan, with numerous businesses, including Bitwise, giving government regulators such a wealth of information to address their inquiries.

Why Bitwise CIO is Confident About the Coming of Bitcoin ETF This Year

The CIO projected that the total combined overwhelming evidence presented by the sector would compel the SEC to approve the application.

According to Hougan, Although the SEC might have achieved the things it truly desired throughout the years by driving the cryptocurrency industry to develop, it’s currently the moment to climb over the hill. 

It’s the moment to bring the reduced costs, more robust security, and more straightforward accessibility that an ETF could offer US investors. We are almost there, and in 2022, we will overcome the obstacle.

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BTC futures ETFs like the ProShares Bitcoin Strategy ETF (BITO) recently dropped 30 percent to 40 percent from their previous highs during the recent weeks . The Bitwise 10 Crypto Index Fund (BITW) fell below 74 percent out of its fifty-two-weeks high.

The Bitcoin ETF, as per Hougan’s believes, would be excellent for US investors since it would provide greater security and result in improved economic goods: It will drastically reduce the cost of accessing the cryptocurrency market, perhaps saving individuals vast amounts of money during the long run, therefore there’s great confidence that we’ll see it in 2022. Although, we are still yet to reply to Hougan’s interview with CNBC from the SEC.

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