Spot Ethereum ETF approval could be delayed, according to Bitwise CIO’s suggestion.
Bitwise’s Chief Investment Officer (CIO), Matt Hougan, has expressed his belief that spot Ethereum ETFs could attract more assets if they are launched after May. Speaking at the Digital Asset Conference in London during a panel discussion on Bitcoin ETFs, Hougan stated, “I’ll take a possibly controversial stance: I hope we don’t see an Ethereum ETF in May. I actually prefer it to be later.” This viewpoint contradicts the initial optimism surrounding the May deadline for the SEC’s decision on the first pending spot Ether ETF applications.
Although there were high expectations initially, recent evaluations suggest a more cautious outlook for a May launch due to perceived stagnation in progress. Hougan suggested a delay, proposing that launching spot Ether ETFs in December may be more advantageous. He argued that providing Wall Street and traditional finance with more time to comprehend the complexities of cryptocurrencies, particularly Bitcoin, would likely result in a more receptive market for Ethereum (ETH) and its ETF.
“Wall Street and traditional finance have just begun to understand this massive entity called Bitcoin, and they are only just starting to grasp it,” he explained. “I believe you need to give them more time to digest it.” Hougan estimated that it would take approximately eight to nine months for Wall Street to fully adapt to Bitcoin (BTC) before considering another ETF.
Read more: Bloomberg analyst predicts a 35% chance of spot Ethereum ETF approval by May. Follow Us on Google News.
