Bitwise CIO suggests delay for spot Ethereum ETF approval

Bitwise CIO Matt Hougan suggests that spot Ethereum ETFs might draw greater assets if they debut after May.

“I’ll take a maybe controversial view: I hope we don’t get an Ethereum ETF in May,” said Hougan during a panel discussion on Bitcoin ETFs at the Digital Asset Conference in London. “I actually sort of want it to be later.”

Hougan’s sentiment diverges from the initial optimism surrounding the May deadline for the SEC decision on the first pending spot Ether ETF applications.

While expectations were high initially, recent assessments suggest a tempered outlook for a May launch due to perceived stagnation in progress. Hougan proposed a delay, suggesting that launching spot Ether 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 cryptocurrency can be, particularly Bitcoin, would likely result in a more receptive market for Ethereum (ETH) and its ETF.

“Wall Street and traditional finance just started ingesting this giant thing called Bitcoin, and they’re just getting their hands around it,” he noted. “And I think you need to give them longer to digest.”

Hougan estimated that approximately eight to nine months would be necessary for Wall Street to adequately acclimate to Bitcoin (BTC) before considering another ETF.