Bitwise CIO: SEC listing rules will drive the development of crypto ETFs, but cannot guarantee capital inflows

PANews September 17th news, according to Cointelegraph, Bitwise chief investment officer Matt Hougan warned that the U.S. Securities and Exchange Commission (SEC) simplifying the approval process for cryptocurrency ETPs may trigger a new batch of products, but this does not guarantee that they will succeed. Hougan said that the general listing standard may be issued as early as October, and a large number of new cryptocurrencies ETP may be welcomed by then, and the history of ETF development also confirms this. However, he reminded not to equate the launch of cryptocurrency ETFs with the rekindling of cryptocurrency popularity. Hougan said that the existence of cryptocurrency ETP does not mean that funds are inflowing in large quantities. Investors need to have a fundamental interest in the target assets. ETP based on assets such as Bitcoin cash may be difficult to attract funds. But he stressed that launching ETFs can prepare products for rising prices because they facilitate traditional investors to allocate cryptocurrencies.