Bitwise CIO Matt Hougan stated that investment advisors are adopting spot Bitcoin ETFs at an unprecedented pace.
Hougan's Remarks
Bitwise CIO Matt Hougan highlighted that investment advisors are adopting spot Bitcoin ETFs faster than any other ETF in history. His comment was in response to market researcher Jim Bianco's claim that spot Bitcoin ETFs had limited adoption among traditional financial advisors.
Critique from Bianco
Bianco had previously criticized spot Bitcoin ETFs, arguing that they have not gained traction among traditional financial experts or older generations. He also claimed that most inflows into these ETFs came from existing on-chain holders, rather than new money entering the crypto space.
Hougan’s Rebuttal
Hougan responded to the criticism by providing context: 'If you exclude all other flows and just look at the $1.5 billion tied to investment advisors, IBIT would be the second fastest-growing ETF launched this year.' Hougan also mentioned significant interest in BlackRock’s spot Bitcoin ETF, which has seen $1.5 billion in net inflows from investment advisors.
Hougan emphasized that $1.5 billion in net inflows from investment advisors represents a significant achievement, despite larger inflows into other Bitcoin ETFs.
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