SEC Should Have Approved Bitcoin ETFs Years Ago: Matt Hougan, Bitwise

Matt Hougan, Chief Investment Officer (CIO) at Bitwise Asset Management, recently shared some good news about a Bitcoin Exchange-Traded Fund (ETF) possibly getting the green light. He also discussed how traditional financial institutions are warming up to cryptocurrencies.

Here are his insights.

Market Vibes are Positive!

During an interview with Thinking Crypto, Hougan pointed out that the buzz about a potential spot Bitcoin ETF approval has put some positive energy into the market. He explained that although the idea of a spot Bitcoin ETF hasn’t fully sunk in with everyone, recent events suggest that we might be headed in that direction.

Hougan is pretty confident that a Bitcoin ETF approval will be a game-changer for both the short term and the long term. He believes it’s a step in the right direction, even though he wished a previous episode of fake news hadn’t clouded the waters.

Also Read: ARK Bitcoin ETF Decision on January 10th; Will SEC Grant Approval?

Larry Fink’s Eye-Opening Words

The conversation then turned to Larry Fink, the CEO of BlackRock, one of the biggest asset management firms worldwide. Fink’s recent comment that Bitcoin might be considered a “flight to quality” asset left Hougan amazed.

He stressed how this shift in BlackRock’s stance reflects a broader shift in how traditional finance sees cryptocurrencies.

Read More: Bitcoin Price Could Surge to $73,000 on Spot ETF Approval: CryptoQuant

The Ball is in SEC’s Court Now

When it comes to the Securities and Exchange Commission (SEC) and their role in approving Bitcoin ETFs, Hougan had a unique perspective. He noted that various regulatory bodies have looked at spot Bitcoin ETFs and crypto ETFs before, but none got the nod from the current SEC. Despite the slow pace, Hougan gave the SEC credit for starting to open doors for ETFs in the world of cryptocurrencies.

He said, “So even though this SEC has been much slower than we want, and even though I think they should have approved a spot Bitcoin ETF years ago, I think we have to give them credit for opening the door to ETFs in crypto land. And I feel a high degree of confidence that it’s going to open wider.”