Bitwise CIO: Recent Market Sell-Off Triggered by "ETF Expectations"
Matt Hougan, the Chief Investment Officer of Bitwise, believes that the recent market sell-off was triggered by "ETF expectations." Hougan stated, "Strictly speaking, this is not ETF-driven selling. ETFs are net buyers of Bitcoin. This is selling triggered by expectations of ETFs. The market front-ran the ETF by buying significant amounts of spot Bitcoin and Bitcoin derivatives, anticipating even more net flows into the ETF than we have seen so far."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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