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    Ethereum ETF Seen as a Potential New Asset Class by Bitwise Chief Investment Officer

    Spot ethereum ETFs may become available as soon as this week, contingent on approval from the U.S. Securities and Exchange Commission. Matthew Hougan, the Chief Investment Officer at Bitwise Asset Management, is enthusiastic about this development.

    In an interview on CNBC’s “ETF Edge,” he characterized the moment, stating, “What you’re seeing is this sort of the birth of a new asset class.”

    Bitwise is actively pursuing approval for its spot ethereum ETFs.

    Regarding the potential in the tokenization sector, Hougan underscored ethereum’s vital role, saying, “If you want to invest in the growth of tokenization, ethereum is like the picks and shovels play as it underpins all of it. … I think that is going to appeal to a lot of people.”

    He views cryptocurrency ETFs as a long-term investment prospect. He cited the positive performance of the initial spot bitcoin ETFs released in January as an encouraging indicator for the future.

    On the topic of bitcoin’s increasing mainstream acceptance, he commented, “It’s [bitcoin] moving into the mainstream and that’s going to be a multiyear story.”

    Since their debut, spot bitcoin ETFs have accumulated roughly $15 billion in assets, currently ranking among the top ETF inflows this year, as reported by FactSet data.

    Hougan considers bitcoin’s progress to be remarkable and sees it as an optimistic sign for the potential success of spot ethereum ETFs.

    Looking to the future, he speculated, “If we get five or 10 or 15 billion dollars in the first two years of these ethereum ETFs, that is a massive runaway success.”

    Image Source: gopixa / Shutterstock

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