Bitwise Chief Investment Officer Matt Hougan says there are three reasons why Ether ETFs could drive the price of the asset, more than Bitcoin ETFs did for BTC.
United States spot Ether exchange-traded funds will have a rough start but could have a bigger impact on the asset’s price than Bitcoin ETFs did for BTC, according to Bitwise Chief Investment Officer Matt Hougan.
“The first few weeks could be choppy, as money may flow out of the $11 billion Grayscale Ethereum Trust (ETHE) after it converts to an ETP,” Hougan stated.
“By year-end, I’m confident the new highs will be in,” he added, reiterating not to expect significant results “immediately” given the potential selling pressure similar to what spot Bitcoin (BTC) ETFs faced upon trading launch on Jan. 11.
