{"id":181069,"date":"2023-10-26T01:57:54","date_gmt":"2023-10-25T20:27:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=181069"},"modified":"2023-10-26T01:57:54","modified_gmt":"2023-10-25T20:27:54","slug":"bitcoin-to-repeat-golds-475-post-etf-rally-bitwises-matt-hougan-says-approval-will-unleash-new-capital-wave-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-to-repeat-golds-475-post-etf-rally-bitwises-matt-hougan-says-approval-will-unleash-new-capital-wave-crypto-news\/","title":{"rendered":"Bitcoin To Repeat Gold\u2019s 475% Post ETF Rally? Bitwise\u2019s Matt Hougan Says Approval Will Unleash New Capital Wave &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The chief investment officer at the largest crypto index fund manager in the US is very optimistic about what a spot Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/currencies\/bitcoin\/\">BTC<\/a>) exchange-traded fund (ETF) approval could do for the king crypto\u2019s price.<\/p>\n<p>Matt Hougan, CIO of Bitwise, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Matt_Hougan\/status\/1716515352966987826\">draws<\/a> a comparison to what happened to gold\u2019s price after the precious metal secured its first ETF in the US in 2004, suggesting something similar could happen to BTC.<\/p>\n<p><em>\u201cPeople ask me: What happened when the first gold ETF launched in the US?\u201d<\/em><\/p>\n<figure id=\"attachment_190710\" aria-describedby=\"caption-attachment-190710\" style=\"width: 1063px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-190710\" class=\"wp-caption-text\">Source: Matt Hougan\/X<\/figcaption><\/figure>\n<p>Bitwise is one of numerous companies that has submitted a spot Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC).<\/p>\n<p>In a recent interview with Thinking Crypto, Hougan <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/youtu.be\/dIKN3ry_yEc?si=B4luThXee97qxxcw\">said<\/a>\u00a0that Bitwise is focused on educating traditional finance stakeholders about Bitcoin.<\/p>\n<p><em>\u201cThe thing to think about with the Bitcoin ETF \u2013 why it matters \u2013 is it unlocks this other segment of the market that essentially has no allocation to crypto, which is the financial advisor marketplace. Now this is an important market \u2013 it\u2019s at least twice, and maybe four times as big, as self-directed retail investors. So the people who own crypto now are mostly self-directed retail investors. The financial advisor marketplace controls between 2x and 4x as many assets.\u00a0<\/em><\/p>\n<p><em>And so what we\u2019re doing every day, with a 20-plus person sales team, is having meetings with these advisors, talking to them about what Bitcoin is, talking to them about where it fits in their portfolio, and laying the groundwork for when that ETF launches, for them to adopt it readily. We\u2019re seeing real traction. There are a lot of advisors who want to allocate ahead of the Bitcoin ETF.\u201d\u00a0<\/em><\/p>\n<p><iframe loading=\"lazy\" title=\"BlackRock Bitcoin Spot ETF Approval Fake Out, Bitwise&#039;s BTC ETF &amp; Relisting XRP w\/ Matt Hougan\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/dIKN3ry_yEc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"color: #ffffff\">I<\/span><\/p>\n<p><em><span style=\"font-size: 13pt\">Don&#8217;t Miss a Beat \u2013 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/join-the-daily-hodl-email-list\/\">Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Check <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/crypto-markets\/\">Price Action<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Follow us on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheDailyHodl\">Twitter<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/thedailyhodl\/\">Facebook<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/thedailyhodl\">Telegram<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Surf <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/daily-hodl-mix\">The Daily Hodl Mix<\/a><\/span><\/em><br \/>\n<\/p>\n<div class=\"hideinamp\">\n<p><a rel=\"nofollow noopener\" target=\"_blank\" class=\"maxbutton-4 maxbutton maxbutton-check-out-the-latest-headlines-bigger\" href=\"https:\/\/dailyhodl.com\/news\/\"><span class=\"mb-text\">Check Latest News Headlines<\/span><\/a><\/p>\n<p>&amp;nbsp<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\" width=\"800\" height=\"99\" \/><\/p>\n<h6>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.<\/h6>\n<\/div>\n<p><span style=\"font-size: 10pt\"><em>Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The chief investment officer at the largest crypto index fund manager in the US is very optimistic about what a spot Bitcoin (BTC) exchange-traded fund (ETF) approval could do for the king crypto\u2019s price. Matt Hougan, CIO of Bitwise, draws a comparison to what happened to gold\u2019s price after the precious metal secured its first [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":181070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-181069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=181069"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181069\/revisions"}],"predecessor-version":[{"id":181072,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181069\/revisions\/181072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/181070"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=181069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=181069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=181069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}