More and more big players are joining the crypto party!
Matt Hougan, the CIO of Bitwise Asset Management, says that institutions are increasingly investing in Bitcoin (BTC) through exchange-traded funds (ETFs). He’s seen a 30% jump in the number of institutions holding Bitcoin ETFs in the last quarter, even with Bitcoin’s price dropping.
Hold Tight, Institutions!
Hougan also points out that these institutional investors are holding onto their Bitcoin, even when the market gets a little bumpy. He says that over 40% of institutions who invested in Bitcoin ETFs in the first quarter either held onto their investments or bought more in the second quarter.
A Wide Range of Investors
While hedge funds are still big players in the Bitcoin ETF game, Hougan says that other types of investors, like family offices and advisors, are also getting in on the action. He likes the fact that Bitcoin ETFs are attracting such a diverse group of investors, including everyone from big-name hedge funds to state governments.
The Future of Bitcoin ETFs
Hougan believes that Bitcoin ETFs are a great way for institutions to get exposure to the cryptocurrency market. He hopes to see even more wealth managers and pension funds join the party in the future.
Important Note: This article is for informational purposes only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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