Why May 15 is a Significant Date for Bitcoin Investors
According to Matt Hougan, Chief Investment Officer at Bitwise, May 15 holds great importance for stakeholders in the Bitcoin and crypto community. This date is crucial because it marks the deadline for investors managing over $100 million to submit their 13-F Filings with the SEC, disclosing their holdings in publicly traded assets. Hougan believes that some of the names on these filings will surprise people, indicating significant institutional engagement in Bitcoin ETFs.
Hougan’s advisory has garnered attention from crypto analyst MacroScope, who agrees with the anticipation surrounding May 15. MacroScope highlights that interesting names could emerge in May since some funds wait until the last minute to disclose their holdings. This timeline creates potential for surprises in terms of institutional involvement in Bitcoin ETFs.
Previously, Hougan shared insights into the demographics driving the surge in BTC ETF investments. These ETFs have attracted individual retail investors, Registered Investment Advisors (RIAs), Family Offices, Hedge Funds, Venture Capital Funds, and Asset Managers. Based on current trends, Hougan predicts that significant flows from Major Wirehouses, Institutional Consultants, and Large Corporations can be expected in Q2 2024.
The Safe Haven Narrative Gains Momentum
Hougan’s observations from his nationwide roadshow with financial advisors and family offices indicate a widespread interest in Bitcoin ETFs. He notes that the demand for these investments is strong and will persist for a while. Professional investors are particularly interested in Bitcoin ETFs.
Hougan also highlights a shift in concerns associated with Bitcoin. Many advisors and clients are now expressing concern about rising US debt levels and view Bitcoin as a release valve for this worry. This suggests an increasing consideration of Bitcoin as a safe haven asset.
At the time of writing, BTC is trading at $72,798.
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