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 finally green-light a spot Bitcoin (BTC) exchange-traded fund (ETF) this year.

In a new interview on CNBC’s ETF Edge, Hougan says that in terms of fraud risks, there is no material difference between the flagship cryptocurrency and other commodities to warrant the disapproval of Bitcoin ETFs.

“There’s certainly instances of fraud and manipulation in all sorts of commodity markets.

I don’t think they’re materially worse in the Bitcoin market and so, if the same standards are applied to oil, natural gas, gold, silver, et cetera, that have allowed ETF to launch in those commodities if those same standards are applied to Bitcoin and other crypto assets.

I think crypto will get through.”

Hougan says that the crypto industry’s efforts to address the concerns of the U.S. Securities and Exchange Commission (SEC)  will eventually translate to regulators approving pure-play Bitcoin ETF applications.

“While I can’t speak to Bitwise’s filings, the quality of filings around Bitcoin ETFs have improved dramatically over the past year.

Companies, not just Bitwise but others, are providing extreme amounts of data to the SEC to help answer their questions and I think, eventually, the cumulative weight of evidence will force them to move forward with an approval.”

Hougan explains why an ETF approval will largely benefit investors.

“That’s going to be great for investors. It’s going to be more investor protections, going to be better products.

It’s going to dramatically lower prices to access the crypto market that could save people billions of dollars over the long term, so I’m very hopeful we get it this year.”

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Bruce Rolff





h/t