Matt Hogan, head of investments at Bitwise, said he expects the investment firm to become a key player in the Ethereum ETF, but strategically it will not approve the product in a hurry in May, but rather in December. I hope that the product will be approved.
In a move aimed at replicating the success of the recent Spot Bitcoin ETF, the company recently SEC filing to launch Spot Ether ETF. This filing positions Bitwise as a potential competitor in the race to bring this product to market.
The proposed “Bitwise Ethereum Trust” would directly own Ethereum and also potentially generate additional revenue using staking services provided by reputable custodians.
“The market consensus is that it could happen in May, but I think it's unlikely,” Hogan told Forbes. Recently published interviews. “I feel very confident in acquiring the Ether ETF.”
Despite Dencun upgrade, Ethereum struggles to gain investor attention
However, the CIO acknowledged that there are currently challenges in stimulating financial advisor interest in Ethereum.He highlighted Ethereum's recent moves Denkun upgradepointed out that it was missing from recent industry-wide discussions.
“Right now, it's hard for professional investors to get people to focus on anything other than Bitcoin,” he said.
Last week, the US Spot Bitcoin ETF once again attracted inflows, marking a reversal of fortunes after a period of net outflows.
10 approved spot Bitcoin ETFs Generated a total of $418 million Products from BlackRock and Fidelity led the surge.
Hogan advocates phased introduction of Ethereum ETF
Hogan expects to see a pattern of sequential adoption within the crypto investor base, with Bitcoin serving as the initial entry point followed by a desire to diversify.
Notable: Bitwise's Ryan Rasmussen in February Probability of approval predicted at 50% I plan to buy the Spot Ether ETF by May, a sentiment widely shared in the market.
Despite expected approval in May, Hogan believes a December launch is more strategically advantageous.
“I know it sounds crazy, but I think TradFi is still digesting Bitcoin. And if you give TradFi time to get used to Bitcoin and cryptocurrencies, they’ll be ready for what’s next. You can do it,” he told Forbes. “But even if we shoved it down their throats in May, we don't know if they would do that.”
