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Bitwise CIO: Spot Bitcoin ETF Is About to Be Approved and Its Demand Will Be 100 Times That of Futures ETF

Bitwise Chief Investment Officer Matt Hougan said in an interview that "the spot Bitcoin ETF application is about to be approved." He mentioned Grayscale's recent victory in SEC litigation and BlackRock's successful ETF application rate, "the company has almost a perfect record in launching ETFs." Hougan also said that the demand for spot cryptocurrency ETFs is expected to be 100 times that of futures ETFs, which will have a greater impact on the market.

He explained that in the gold market, spot gold ETFs manage assets of about $100 billion. In fact, gold futures ETFs are zero because the only existing ETF has closed due to a lack of market interest. Investors want spot Bitcoin and spot Ethereum ETFs, and they use futures-based ETFs as a transition until spot products are launched. 

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