BTC
'Bitwise': preparing for a 'larger wave of investors' in the coming period
Bitwise CIO Matt Hogan's comments come as financial institutions, such as Merrill Lynch and Wells Fargo, begin allowing their clients to access Bitcoin trading funds.
Bitcoin exchange-traded funds (ETFs) could see a "bigger wave" of institutional capital once "major companies" allow access to bitcoin trades via new ETFs, according to Bitwise.
“I think there's a bigger wave coming in a few months, which is when the big companies start operating,” Matt Hogan, CIO of Bitwise, said in an interview with CNBC on February 29, adding that the first wave “Most of the momentum surrounding Bitcoin ETFs has come primarily from retail, hedge funds and independent financial advisors so the next wave will be driven by institutional capital,” said Hogan, who referred to ETFs as Bitcoin’s “IPO moment.”
Interestingly, two of the world's largest financial institutions, Bank of America's Merrill Lynch and Wells Fargo, have begun offering Bitcoin ETF services to their clients.
