The Block4 minutes ago

Published on March 19, 2024 11:33 GMT+00:00edited on March 19, 2024 11:34 GMT+00:00

While no major wirehouse in the US has yet supported the new set of bitcoin ETFs, this situation could change soon.

"We're probably a few weeks away from the first of those major warehouses approving it — maybe a week away," Bitwise CIO Matt Hougan said on a panel about bitcoin ETFs at the Digital Asset Conference in London. "And within a few months they'll all be able to."

Hougan explained that the US retail wealth market can be divided into two groups: independent financial advisors and major national platforms. He mentioned that the IRAs have been the ones buying into the bitcoin ETFs as they are immediately able to do so. As for the major platforms, these need to approve the products internally through their due diligence processes before making them available.

Hougan described …