Matt Hougan, the chief investment officer of crypto fund issuer Bitwise, believes that the crypto ETF era is just beginning. He argues that Ethereum’s appeal to traditional financial investors and developers is being underestimated by those who have turned away from ETH. Regardless of the outcome of the U.S. election, Hougan believes that the crypto industry is in a good position.
Bitwise Asset Management has had a successful year, with the launch of two highly successful exchange-traded funds (ETFs) for bitcoin and ether. The company’s assets under management have grown significantly, and the recent acquisition of ETC Group has solidified its presence in Europe. According to Hougan, Bitwise is just getting started in the ETF era of crypto, with plans to offer a variety of investment vehicles to meet the needs of different investors.
Hougan emphasizes Ethereum’s importance in the crypto ecosystem, highlighting its role in the stablecoin market and tokenization projects. He describes Ethereum as the “Microsoft of blockchains” due to its utility and the applications built on its platform. While some investors may be more interested in bitcoin, others are excited about the potential of Ethereum and the projects being developed on it.
In terms of regulatory developments in Washington, Hougan notes a shift in attitude towards crypto. While the Biden administration initially had a negative stance on crypto, recent statements from former President Trump and Vice President Harris suggest a more positive outlook. Hougan believes that regardless of who wins the presidential election, the regulatory environment for crypto is evolving and may benefit certain sectors of the industry.
Looking ahead, Hougan predicts continued growth in interest for ether ETFs and believes that Ethereum’s educational efforts will pay off in the long run. He stresses that the crypto industry is resilient and will thrive regardless of the political climate. Ultimately, Hougan sees a bright future for crypto, with or without support from Washington.