Major Financial Institutions such as Wells Fargo, Morgan Stanley, Merrill Lynch, and UBS to Introduce Bitcoin ETF Services by Year-End: Projeted by Bitwise CIO Matt Hougan
Hellooo! Here's a lively take on the latest crypto news and predictions:
Craving Crypto from Wall Street!
The chief investment officer of Bitwise, Matty Hougan, is going against the norm, predicting that the Big Kahunas of wirehouses — Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS — will share some Bitcoin love with their clients by the year's end. Why? Because these financial powerhouses, who collectively manage over $10 trillion in assets, can't resist the allure of the Bitcoin ETF!
"Gimme, gimme dat Bitcoin ETF, yo!" That's what the wirehouses will be chanting come December, according to Hougan. He believes that each of the Big Four will strive to offer clients a taste of the crypto king through ETFs, leading to Bitcoin ETFs setting a new record for net inflows in 2025. Talk about a bull run!
The number Hougan throws around for local inflows? A whopping $50 billion by the end of 2025. So buckle up, Bitcoin fans, because this ride's just getting started.
With the wirehouses making a move, it's only a matter of time before more institutional investors hop on the Bitcoin train. Plus, with the ongoing advancements that we haven’t even imagined a few years ago—institutional custody, government adoption, and easy access through ETFs—it's shaping up to be a wild ride!
At the time of writing, Bitcoin is trading at a cool $93,869, marking a 1.1% dip over the past 24 hours. Keep a close eye on this space though, as things are bound to get interesting!
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Enrichment Data:Bitwise CIO Matt Hougan predicts a transformative shift in market dynamics by the end of 2025 as mainstream banking institutions offer Bitcoin ETF services to their clients. This launch is expected to drive a significant institutional adoption of Bitcoin ETFs and could impact related cryptocurrencies such as Ethereum and altcoins connected to the Bitcoin and Ethereum infrastructure.
- The influx of Bitcoin ETFs, predicted by Bitwise CIO Matt Hougan, is expected to attract trillions in assets from major financial institutions like Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS, potentially leading to increased investments in not only Bitcoin but also Ethereum and other altcoins linked to the Bitcoin and Ethereum blockchain infrastructure.
- As more mainstream financial institutions enter the cryptocurrency market, there is a significant potential for altcoins to gain attention as well, given their connection to the disruptive Bitcoin and Ethereum networks.
- The business of finance is poised for a dramatic shift, as the entry of traditional banking behemoths into the cryptocurrency landscape may signal an increasing acceptance and integration of blockchain technology, impacting not only Bitcoin and Ethereum but also a myriad of altcoins as well.
