Bitwise predicts a surge of Bitcoin ETFs in the coming months

Bitwise predicts that spot Bitcoin exchange-traded funds (ETFs) could attract a significant amount of institutional capital once major wirehouses start offering Bitcoin ETF trades. In an interview with CNBC, Bitwise’s CIO, Matt Hougan, stated that the initial interest in Bitcoin ETFs has mainly come from retail investors, hedge funds, and independent financial advisors, but the next wave of interest is expected to come from institutional investors. Bank of America’s Merrill Lynch and Wells Fargo have reportedly started offering spot Bitcoin ETFs to their wealth clients, although it is currently only available upon request. Morgan Stanley is also said to be considering offering spot Bitcoin ETFs on its brokerage platform. Hougan believes that Bitcoin ETFs have ushered in a new era of price discovery and that the next wave of institutional interest could significantly drive up Bitcoin’s price. When asked how high Bitcoin’s price could go, Hougan suggested it could exceed Bitwise’s initial prediction of $80,000 and reach anywhere between $100,000 to $200,000 or even higher. The Bitwise Bitcoin ETF has seen significant inflows since its launch, recording the fourth largest inflows of $1.11 billion.