Bitwise CIO Matt Hougan said institutions will inject more than $1 trillion into Bitcoin via ETFs over the coming year as due diligence is completed and further exposure is approved.
Hougan shared his perspective in the latest weekly investor note from the company, where he reflected on the challenges and opportunities facing investors in the digital currency space.
The Bitwise CIO urged investment professionals to maintain a long-term perspective amid the current volatile state of the crypto markets, particularly Bitcoin, which has seen fluctuating prices between $60,000 and $70,000.
Short-term holding pattern
Hougan pointed out that the market is in a “short-term holding pattern” in anticipation of significant upcoming events. He added that each of these developments will shape the market’s short-term trajectory in the coming months.
These include the Bitcoin halving expected around April 17, potential approvals of spot Bitcoin ETFs on major national platforms like Morgan Stanl
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