Spot ether ETFs could hit the market as soon as this week, pending SEC approval, and Bitwise’s chief investment officer plans to get in on the action.
Spot ether ETFs could hit the market as soon as this week, pending U.S. Securities and Exchange Commission approval, and Bitwise Asset Management's Matthew Hougan plans to get in on the action."What you're seeing is this sort of the birth of a new asset class," the firm's chief investment officer told CNBC's""If you want to invest in the growth of tokenization, ethereum is like the picks and shovels play," Hougan said."It underpins all of it.
Spot bitcoin ETFs have attracted about $15 billion since their launch and currently hold two of the top ETF inflows this year, according to FactSet. Hougan views bitcoin's recent success as unprecedented and sees it as a bullish indicator for spot ether ETFs. "If we get five or 10 or 15 billion dollars in the first two years of these ethereum ETFs, that is a massive runaway success," Hougan said.
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