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Bitwise CIO Claims Bitcoin ETFs Are Adopted Faster Than Any Fund in History

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Despite recent outflows from Bitcoin ETFs, Bitwise CIO Matt Hougan believes that investment advisors are adopting these funds at a faster rate than any other ETF in history. According to Hougan, the real story is not the outflows, but the rapid adoption of Bitcoin ETFs by investment advisors.

Investment Advisors’ Allocations Are Significant

Hougan pointed out that investment advisors have allocated a significant amount of funds to Bitcoin ETFs, with the IBIT ETF, for example, receiving $1.45 billion in inflows from investment advisors. While this may seem small compared to the total inflows into Bitcoin ETFs, Hougan argued that it is a significant amount in the context of new ETF growth.

Fastest Adoption in ETF History

Hougan claimed that Bitcoin ETFs are experiencing the fastest adoption in ETF history, with investment advisors adopting these funds at a rate that is unmatched by any other ETF. He added that if we isolate the flows from investment advisors and exclude other Bitcoin ETFs, IBIT ranks as the second-fastest rising ETF launched this year out of over 300.

Investment Managers’ Impact Is Significant

While investment managers may represent a small fraction of the total Bitcoin ETF market, their impact is significant in the context of new ETF growth. Hougan argued that it is not accurate to say that investment manager purchases of Bitcoin ETFs are “tiny”, but rather that they are a significant contributor to the growth of these funds.

Ethereum Price Predictions

While the adoption of Bitcoin ETFs is a significant development, some analysts believe that Ethereum’s price will recover in the coming months, driven by increased adoption and usage of the network.

Conclusion

The adoption of Bitcoin ETFs by investment advisors is a significant development that is often overlooked in the midst of outflows and market volatility. As the market continues to evolve, it will be interesting to see if this trend continues and if Bitcoin ETFs can maintain their momentum in the face of increasing competition from other investment products.

Disclaimer

Readers are encouraged to conduct their own research and consult with a financial professional before making any investment decisions based on this content.

Disclaimer
Readers are encouraged to conduct their own research and consult with a financial professional before making any investment decisions based on this content.

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