Bitwise CIO Shares 3 Key Takeaways from IMF Bitcoin Payments Report
One of Hougan’s takeaways from the IMF Working Paper hinges on the fact that the organization is interested in Bitcoin.
One of Hougan’s takeaways from the IMF Working Paper hinges on the fact that the organization is interested in Bitcoin.
Bitwise CEO Hunter Horsley said that several RIAs and multi-family offices have been exploring Bitcoin investments while staying low-key and conducting research silently.
Hougan’s bullish prediction is based on Bitcoin’s impressive growth of nearly 300% over the past 15 months.
Grayscale’s BTC holding was down to 361.79K, from 624.28K Bitcoins it held by January 11, before ETF conversion.
Hougan noted that major wirehouses will soon drive the Bitcoin demand to the roof as the supply gets reduced during the halving event.
A network of RIAs will now begin allocating funds for investment to the Bitcoin market through BITB, the spot Bitcoin ETF from Bitwise.
Marketing for Bitcoin ETFs has taken some interesting turns since Bitwise released the first ad in mid-December 2023, close to a month before spot Bitcoin ETFs were approved.
The inflow recorded by spot Bitcoin ETFs nearly surged to $500 million yesterday, as the price of Bitcoin hit a level not seen for 2 years.
BlackRock, Grayscale, Invesco, and several others now have Bitcoin ETF ads running on Google after rule changes took effect last week.
Fidelity’s Wise Bitcoin Fund (FBTC) and BlackRock’s IBIT have posted $6 billion in cumulative inflows in the past three weeks.