Bitwise CIO Matt Hougan says investment advisors are looking to invest in Bitcoin $56,474.79 He noted that exchange-traded funds (ETFs) have been adopted faster than any other ETF in history. Hougan was responding to a post on social media platform X by macro strategist Jim Bianco in which he claimed that the adoption of Bitcoin ETFs by investment advisors was “minuscule.” Hougan clarified that Bianco’s assessment was incorrect.
Contributions of Investment Advisors
Hougan noted that BlackRock’s ETF IBIT has generated $1.45 billion in net inflows from investment advisors, which Bianco described as “small.” But Hougan argued that investment advisors have adopted Bitcoin ETFs faster than any new ETF in history. Larger purchases from other investors have dwarfed the historical inflows from investment advisors.
Eric Balchunas’s Review
Bloomberg ETF analyst Eric Balchunas agreed with Hougan’s assessment. Balchunas noted that IBIT has generated $1.5 billion in organic inflows through investment advisor allocations, more than any other ETF launched this year. This is an indication of how quickly Bitcoin ETFs are being adopted by investment advisors.
Current Status of Bitcoin
At the time of writing, Bitcoin is reportedly trading at $57,627. This price can be considered an indicator of investors’ interest in Bitcoin ETFs. Such rapid adoption by investment advisors could strengthen Bitcoin’s place in the financial market.
As a result, investment advisors are reportedly adopting Bitcoin ETFs faster than any other ETF in history. This is particularly supported by the large net inflows from BlackRock’s IBIT ETF. While investment advisors’ Bitcoin ETF purchases have been overshadowed by larger purchases from other investors, their contributions should not be underestimated. This development may indicate the potential for future growth in Bitcoin ETFs.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
