Bitwise: SEC may delay decision on approving Ethereum ETF until December

^Summary:

^{• The SEC may delay approval of the highly anticipated Ethereum exchange-traded fund (ETF), according to filings from Bitwise.}

^{• Bitwise’s Bitcoin ETF launched in January quickly amassed $2 billion in assets.}

^{• Matt Hougan believes that a delay may benefit the market by giving traditional finance time to adapt.}

^{The U.S. Securities and Exchange Commission (SEC) is considering delaying approval of the highly anticipated Ethereum exchange-traded fund (ETF), according to Bitwise Chief Investment Officer Matt Hougan.}

^{This development comes on the heels of Bitwise Asset Management’s intention to list a spot Ethereum ETF.}

^{Ethereum ETF approval may be delayed}

^{Bitwise launched its spot Bitcoin ETF, the Bitwise Bitcoin ETF (BITB), on January 11. Since then, the ETF has experienced meteoric growth, amassing more than $2 billion in assets and gaining momentum in the so-called “Cointucky Derby" ranked fifth.}

^{Hougan shared insights into the explosive growth of BITB and other spot ETFs, highlighting their unprecedented acceleration compared to historical ETF launches.}

^{Hougan emphasized, “These spot Bitcoin ETFs are the fastest-growing ETFs ever, and the growth rate is huge. I believe the fastest-growing ETF before this was the Nasdaq 100 ETF (QQQM), which was in From zero to $5 billion during the year. These ETFs saw net inflows of more than $10 billion in less than two months."}

^{Bitcoin ETF holdings | Source: CryptoQuant}

^{Despite the success of the spot Bitcoin ETF, Hougan warned that the approval of the Ethereum ETF may be delayed. This may stem from regulatory caution, given the growing interest in cryptocurrency investments and the complex dynamics of the market.}

^{Hougan is confident about the eventual launch of the Ethereum ETF. However, he predicts that delaying until the end of the year may actually benefit the market by giving traditional finance (TradFi) more time to understand and accept cryptocurrencies.}

^{Hougan explained, “I think this is the natural path that crypto investors have followed for 15 years. They start with Bitcoin and then they want to get exposed to other things. I think Ethereum will be very attractive. I think if Ethereum An ETF launching in 12 months will be more successful than launching in May. I know this sounds stupid, but I think TradFi is still digesting Bitcoin and if you give TradFi time to adapt to Bitcoin and cryptocurrencies, they Will be ready for the next step."}

^{This strategic patience may pave the way for institutional and retail investors to get into Ethereum more solidly and wisely following the huge success of the Bitcoin ETF.}

^{Hougan’s insights reveal a significant shift in perceptions of cryptocurrencies, from skepticism to recognition of its huge potential for investment returns. The cryptocurrency community is on edge as the SEC weighs its decision, hoping for approval that could further legalize and boost investment in Ethereum and beyond.}

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