Bitwise CIO Matt Hougan expects large companies to generate massive capital inflows into bitcoin in the second quarter of 2024. In writes a new thread on Twitter Matt Hougan says that with the arrival of the Spot Bitcoin ETFs, large companies finally have a way to invest in bitcoin.

According to Hougan, the launch of the bitcoin ETFs is one of the most successful ETF launches of all time.

The bitcoin market is open for professionals

“One of the big promises of the bitcoin ETF is that it would open the market to professional investors. Did that happen? Yes.

Over the past seven weeks, we heard from each of the following groups that they had purchased bitcoin: individual investors, registered financial advisors, family offices, hedge funds, venture capitalists and fund managers,” Hougan said.

Bitwise, which also launched its own bitcoin ETF, is in discussions with several wirehouses, institutional advisors and large companies, according to Hougan. According to him, it is a matter of time before these types of parties take the plunge and invest in bitcoin.

The enormous price increases of bitcoin will in any case increase the “FOMO” among these types of parties.

Trillions of dollars in capital

“These are huge categories, representing trillions of dollars of capital. Based on current trends, I expect the first significant inflows from these three groups in Q2 2024.

Over the year, I expect those flows to accelerate as institutional players become more comfortable with these new products,” said Hougan.

At the time of writing, the bitcoin price is trading at $68,500 and the digital currency has taken a small hit compared to 24 hours ago. At the time, the price was 1.31 percent higher.

Can Bitcoin continue its race upwards this week as trading in the Spot Bitcoin ETFs reopens? That is the big question of the moment.

Source: https://bitcoinmagazine.nl/nieuws/bitwise-gigantische-kapitaalinstroom-voor-bitcoin-in-q2-2024



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