Top Highlights

• “Spot Ethereum ETFs will gather more assets if they launch in December versus if they launch in May,” wrote Matt Hougan, CIO of Bitwise, on Twitter on Tuesday. “TradFi needs more time to digest the Bitcoin ETFs.”
• Hougan has repeatedly argued that there is still ample room for greater adoption of Bitcoin ETFs by the traditional financial world, and that certain target markets—like corporations and wirehouses—are still “plugging in” to the asset.
• A survey released by Bitwise in early January, however, found substantially less interest in Ethereum among financial advisors. At the end of last year, 71% of respondents favored Bitcoin, compared to a roughly 50/50 split in 2022.
• “Aside from Bitcoin (which is in a class of its own), the most excitement I've heard in terms of real-world use is around stablecoins,” added Hougan, based on his attendance at the institutionally-focused Blockworks DAS conference. “Seems clear to me that stablecoins will be a multi-trillion market by the end of 2025.”
• Neither Balchunas nor his associate, James Seyffart, believe such ETFs are likely to receive approval by May 23,

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