Bitwise CIO Predicts Massive Inflows into Bitcoin from Large Corporations in Q2 2024
The chief investment officer of crypto fund manager Bitwise believes that Bitcoin (BTC) will experience significant inflows from large corporations in the second quarter of 2024. According to Bitwise CIO Matt Hougan, the approval of spot market BTC exchange-traded funds (ETFs) in January has opened up opportunities for financial institutions and large corporations to invest in the leading cryptocurrency.
Bitcoin ETF Launch Generates Interest from Blue-Chip Investors
Hougan highlights that the launch of Bitcoin ETFs has been incredibly successful, attracting $7.5 billion in assets since January 11th. This makes it one of the most successful ETF launches of all time. The approval of these ETFs has generated interest from various blue-chip investors, including:
- Individual retail investors
- Registered investment advisors
- Family offices
- Hedge funds
- Venture capital funds
- Asset managers
The Bitcoin ETFs have fulfilled their promise of opening up the market to professional investors.
Potential Capital Inflows from Major Players
In addition to the positive response from retail and institutional investors, Bitwise has engaged in โdue diligenceโ discussions with major wirehouses, institutional consultants, and large corporations. Based on these talks, Hougan predicts that significant capital inflows into Bitcoin will occur in Q2 2024 and beyond. He believes that as these investors become more comfortable with new investment products, the inflows will accelerate throughout the year.
Bitcoinโs Current Price
As of now, Bitcoin is trading at $69,630.
Hot Take: Bitcoin to Benefit from Corporate Inflows in 2024
The chief investment officer of Bitwise, Matt Hougan, predicts that Bitcoin will experience a surge in capital inflows from large corporations in the second quarter of 2024. The approval of Bitcoin ETFs has already attracted significant interest from blue-chip investors, including retail investors, registered investment advisors, family offices, hedge funds, venture capital funds, and asset managers. Furthermore, Bitwise is in discussions with major wirehouses, institutional consultants, and large corporations for potential investments. Based on these developments, Hougan expects substantial capital inflows into Bitcoin throughout 2024 as these investors become more comfortable with the new investment products.
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