Investment Advisors Adopting Bitcoin ETFs Faster That Any Exchange-Traded Fund in History, Says Bitwise CIO

Bitwise CIO Matt Hougan says funding advisors are adopting Bitcoin (BTC) exchange-traded funds (ETFs) sooner than every other ETF in historical past.

Hougan responds to a put up on the social media platform

Based on Hougan, Bianco will not be proper.

“Jim is incorrect about this: funding advisors are adopting Bitcoin ETFs sooner than any new ETF in historical past. Let’s check out its personal knowledge, specializing in IBIT, the BlackRock ETF. Based on its desk, IBIT has attracted $1.45 billion in web flows from funding advisors. He calls this “small” as a result of it’s a fraction of the $46 billion that has flowed into Bitcoin ETFs in whole…

The reality is that funding advisors are adopting Bitcoin ETFs sooner than every other ETF in historical past. It is simply that their historic flows are dwarfed by the much more historic purchases of different traders. It’s correct to say that funding managers signify a small portion of Bitcoin ETF consumers. However it’s not correct to say that funding managers’ purchases of Bitcoin ETFs are ‘small’.”

Eric Balchunas, a Bloomberg ETF analyst, agrees with Hougan’s evaluation.

Says Balchunas,

“Nice level: IBIT’s advisor allocations alone (which whole $1.5 billion) are driving extra natural inflows than every other ETF launched this 12 months.”

Bitcoin is buying and selling at $57,627 on the time of writing.

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