Bitwise CIO says spot Ethereum ETFs could attract more assets if they launch later than May
Quick Take
- Bitwise CIO Matt Hougan said that it wouldn’t be ideal for spot ether ETFs to be approved in May.
- He said Wall Street may need time to digest the bitcoin ETFs before expanding to new ones.
While there has been a lot of speculation and desire for spot ether ETFs to gain approval in May, Bitwise CIO Matt Hougan said it might be beneficial for it to move more slowly.
"I'll take a maybe controversial view: I hope we don’t get an Ethereum 
ETH
-3.52%
ETF in May," Hougan said on a panel about bitcoin ETFs at the Digital Asset Conference in London. "I actually sort of want it to be later."
May is the first main deadline for the SEC to approve or deny the first pending spot ether ETF applications. Initially, pundits were optimistic about the deadline, but recently many analysts have lowered their expectations for it to launch by May due to a seeming lack of progress.
Hougan explained that he believes spot ether ETFs would attract more assets if they were to launch in December instead of May.
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"I think Wall Street/traditional finance just started ingesting this giant thing called bitcoin. And they're just getting their hands around it," he said. "And I think you need to give them longer to digest."
Hougan said he reckoned that Wall Street needs around 8-9 months to digest bitcoin before it will be ready for another ETF.
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