Bitwise’s Chief Investment Officer, Matt Hougan, has suggested that the debut of spot Ethereum ETFs might attract more assets if they are launched after May.
During a panel discussion on Bitcoin ETFs at the Digital Asset Conference in London, Hougan expressed his viewpoint, stating, “I’ll take a potentially controversial stance: I prefer if we don’t see an Ethereum ETF in May. I actually think it would be better to launch it later.”
Hougan’s perspective contrasts with the initial optimism surrounding the May deadline for the SEC decision on the first pending spot Ether ETF applications.
While there was optimism initially, recent assessments indicate a more cautious outlook for a May launch due to perceived lack of progress. Hougan suggested a postponement, proposing that launching spot Ether ETFs in December might be more advantageous.
The Bitwise CIO reasoned that giving Wall Street and traditional finance more time to comprehend the complexities of cryptocurrency, particularly Bitcoin, would likely result in a more receptive market for Ethereum (ETH) and its ETF.
“Wall Street and traditional finance are just beginning to understand this massive entity known as Bitcoin, and they are still in the process of grasping it,” he observed. “I believe it’s necessary to allow them more time to digest before introducing another ETF.”
Hougan estimated that it would take approximately eight to nine months for Wall Street to fully adjust to Bitcoin (BTC) before considering another ETF.