Bitcoin not done rising yet? Expert: The real ETF buyers haven't arrived yet

Bitwise's Chief Investment Officer, Matt Hougan, stated that the ETF has not yet priced in the Bitcoin asset's price.

Bitcoin Keeps Rising! Expert: True ETF Buyers Have Not Yet Arrived

According to a CoinDesk interview on 11/9, Hougan stated: "This is not priced in at all because the people who are going to buy the Bitcoin spot ETF don't know it's coming or likely to come; the ETF advisors are not expecting it to come in 2025 or later." He believes that if the people who are going to buy this ETF don't think it will be approved in the next two months, then it hasn't been priced in yet.

The Important Role of Bitcoin ETF

Hougan believes that ETFs will play an important role in reaching a broad base of investors, especially financial advisors managing substantial wealth in the United States.

Currently, 20% of retail investors have already purchased cryptocurrencies, he said, but 80% of the wealth in the United States is controlled by financial advisors and institutions who need an ETF to enter the cryptocurrency market. He stated that Bitcoin will face a completely new audience, and its launch impact will be similar to the evolution of the Gold ETF in the early 2000s.

He explained, "The approval of the Gold ETF in 2004 led to eight or nine years of continuous growth in the price of gold, the longest phenomenon in modern history since the creation of the US dollar."

Reviewing the "Gold ETF" prediction, the dream of Bitcoin breaking historical highs in four years is not far-fetched

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