Major Financial Institutions, including Wells Fargo, Morgan Stanley, Merrill Lynch, and UBS, to Launch Bitcoin ETF Operations by Year's End, as Per Bitwise CIO Matt Hougan's Prediction.
Bitcoin Predictions and Industry News- Breaking Boundaries: Bitcoin ETFs Coming to Mainstream Banks
Bitcoin is about to break into the mainstream financial world with a bang! According to Matt Hougan, the Chief Investment Officer of crypto asset management firm Bitwise, major banking institutions like Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS could be offering Bitcoin ETF services by the end of this year.
In a new investor note, Hougan reveals that these financial powerhouses, who collectively hold over $10 trillion in assets, are eager to give their clients access to Bitcoin via ETFs. This shift could potentially bring in a wave of institutional investment as more and more milestones are reached in the crypto space, such as institutional custody, government adoption, and easy ETF access.
Hougan goes on to say, "If you go back even a few years, what we thought it would take - like the U.S. government owning bitcoin or the largest asset manager in the world embracing the asset - seemed far-fetched. But here we are..." He suggests that many people will come to the same conclusion about Bitcoin this year.
As of writing, Bitcoin is trading at $93,869, down by 1.1%.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making high-risk investments in Bitcoin or any other digital assets. The Daily Hodl is not an investment advisor.
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- The breaking news in the cryptocurrency world is that major financial institutions, including Merrill Lynch, could soon offer Bitcoin ETF services, as suggested by Matt Hougan, the Chief Investment Officer of Bitwise.
- If these financial powerhouses like Merrill Lynch, who collectively hold over $10 trillion in assets, decide to provide Bitcoin via ETFs, it could unwittingly lead to a wave of institutional investments in the crypto space.
- As more milestones are reached in the crypto industry, such as institutional custody, government adoption, and easy ETF access, the business potential for altcoins like Ethereum becomes increasingly promising.
- In the future, Solstice Labs announces the upcoming launch of USX, a stablecoin specifically designed for the Solana network, aiming to bring transparent yield to the platform.
- Amidst the crypto market updates, a macro Guru and investor, Raoul Pal, predicts Bitcoin's surge by the next twelve months, emphasizing the importance of a weaker dollar to service the growing national debt.
