During a panel discussion on Bitcoin ETFs at the Digital Asset Conference in London, Matt Hougan expressed a perhaps unexpected viewpoint regarding the potential approval of an Ethereum ETF in May.
I’ll take a maybe controversial view: I hope we don’t get an Ethereum ETF in May,” said Hougan, diverging from the prevalent optimism surrounding the impending SEC decision on the first pending spot Ether ETF applications. “I actually sort of want it to be later.”
Contrary to initial high expectations, recent evaluations suggest a more subdued anticipation for a May launch due to perceived stagnation in progress. Hougan advocated for a delay, proposing that introducing spot Ether ETFs in December might be more advantageous.
The rationale behind Hougan’s stance lies in providing Wall Street and traditional finance with additional time to grasp the intricacies of cryptocurrency, particularly Bitcoin, which could pave the way for 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 observed. “And I think you need to give them longer to digest.”
According to Hougan, approximately eight to nine months would be required for Wall Street to adequately acclimate to Bitcoin (BTC) before contemplating another ETF.
