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Bitwise CIO Matt Hougan suggests ethereum spot ETFs could attract bigger assets if they debut after May.
“I'll take a perhaps controversial view: I hope we don't have an ethereum ETF in May,” Hougan said during a panel discussion on bitcoin ETFs at the Digital Asset Conference in London. “In fact, I want it to be later.”
Hougan's sentiment differs from initial optimism surrounding the May deadline for the SEC's decision on the first pending Ether ETF applications.
While expectations were high initially, recent assessments suggest a moderate outlook for a May launch due to a perceived stagnation in progress. Hougan proposed a delay, suggesting that launching Ether spot ETFs in December may be better and more beneficial.
The Bitwise CIO reasoned that allowing Wall Street and traditional finance more time to understand how complex cryptocurrencies, particularly bitcoin, can be, would likely result in a more receptive market for ethereum (eth) and its ETF.
“Wall Street and traditional finance are just starting to come to grips with this giant thing called bitcoin, and they're just starting to master it,” he said. “And I think they need to be given more time to digest.”
Hougan estimated that it would take approximately eight to nine months for Wall Street to properly acclimate to bitcoin (btc) before considering another ETF.
