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January 23, 2022
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Here’s Why a Spot Bitcoin ETF is Coming This Year, According to Bitwise CIO Matt Hougan

Bitwise CIO Matt Hougan is optimistic that federal regulators will lastly green-light a spot Bitcoin (BTC) exchange-traded fund (ETF) this yr.

In a new interview on CNBC’s ETF Edge, Hougan says that when it comes to fraud dangers, there is no materials distinction between the flagship cryptocurrency and different commodities to warrant the disapproval of Bitcoin ETFs.

“There’s definitely situations of fraud and manipulation in all types of commodity markets.

I don’t suppose they’re materially worse within the Bitcoin market and so, if the identical requirements are utilized to oil, pure gasoline, gold, silver, et cetera, which have allowed ETF to launch in these commodities if those self same requirements are utilized to Bitcoin and different crypto belongings.

I believe crypto will get by way of.”

Hougan says that the crypto trade’s efforts to tackle the issues of the U.S. Securities and Exchange Commission (SEC)  will finally translate to regulators approving pure-play Bitcoin ETF functions.

“While I can’t converse to Bitwise’s filings, the standard of filings round Bitcoin ETFs have improved dramatically over the previous yr.

Companies, not simply Bitwise however others, are offering excessive quantities of knowledge to the SEC to assist reply their questions and I believe, finally, the cumulative weight of proof will pressure them to transfer ahead with an approval.”

Hougan explains why an ETF approval will largely profit traders.

“That’s going to be nice for traders. It’s going to be extra investor protections, going to be higher merchandise.

It’s going to dramatically decrease costs to entry the crypto market that might save folks billions of {dollars} over the long run, so I’m very hopeful we get it this yr.”

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Featured Image: Shutterstock/Bruce Rolff

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