Source: beincrypto
Compiled by: Blockchain Knight
According to Bitwise Chief Investment Officer Matt Hougan, the SEC (U.S. Securities and Exchange Commission) is considering delaying the approval of the highly anticipated Ethereum ETF .
The development comes after Bitwise Asset Management plans to list a spot Ethereum ETF.
Bitwise launched a spot BTC ETF - BITB on January 11. Since then, the ETF has risen rapidly, amassing over $2 billion in assets and ranking fifth in the so-called “Cointucky Derby.”
Hougan shared insights into the explosive growth of BITB and other spot ETFs, highlighting their unprecedented growth compared to historical ETF issuances .
Hougan emphasized: “These (spot BTC ETFs) are the fastest growing ETFs in history, growing a lot faster.”
“I believe the fastest growing ETF before this was QQQM, which grew from zero to $5 billion in one year. And these spot BTC ETFs netted more than $10 billion in less than two months.”
Despite the success of the BTC ETF, Hougan warned that the approval of the Ethereum ETF may be delayed.
This stems from regulatory caution due to growing interest in Crypto asset investments and complex market dynamics.
But Gougan also expressed confidence that an Ethereum ETF will eventually be launched. However, he predicted that delaying it to later this year could benefit the market by giving traditional finance more time to understand and accept crypto assets .
Hougan explained: “We think this is the natural path that crypto asset investors have been following for 15 years. They started with BTC and have always wanted to get exposure to other things.”
“I think Ethereum will be very attractive. And the Ethereum ETF launching in December will be more successful than launching in May. I know it sounds silly, but I think traditional finance is still digesting BTC, if you give It's time for them to get used to BTC and Crypto assets, and they'll be ready for the next thing."
Following the huge success of the BTC ETF, this strategic patience may pave the way for a more robust and informed entry into the Ethereum market for both institutional and retail investors .
Hougan's insights reveal a significant shift in perceptions of the Crypto asset, from skepticism to recognition of its potential for substantial investment returns.
As the SEC weighs its decision, the crypto asset community remains on edge, hoping for a green light that will further legalize and promote investment in Ethereum and beyond.
