Wealth managing companies may increase their investments in Bitcoin exchange-traded funds (ETFs) according to Bitwise CEO Hunter Horsley.
By the end of 2024, people are going to be stunned by how many wealth management firms own a bitcoin ETF.
They’re smart, many extremely well informed, and increasingly share conviction on Bitcoin. Oh, and they’re long only.
Going to be an amazing new constituent in the…
— Hunter Horsley (@HHorsley) April 20, 2024
This forecast is as it is predicted that Bitcoin ETFs will become even more in demand months after the Bitcoin halving event.
The inclination of his expectation goes with the market thinking which indicates that there is a rising desire for ETFs. Just before halving day, recent data shows that U.S. Bitcoin ETFs rose after five consecutive days of withdrawals.
BlackRock’s iShares Bitcoin Trust (IBIT) quickly catching up to…
