Bitwise Chief Information Officer: 3% Bitcoin Configuration Becomes a New Trend
2024-03-27 13:12:53
On March 27th, Matt Hougan, Chief Information Officer of Bitwise, stated that a 3% allocation of Bitcoin is becoming a new trend for professional investors. He believes that exchange traded funds are the main reason for this shift, as they reduce the downside risk of Bitcoin. "Real institutional investors (such as pension funds and endowment funds) still pay attention to allocations below 1%, but for the wealth market, over 3% is new." Since its launch, the US spot Bitcoin ETF has had a net inflow of $11.7 billion in just over two months, signaling that long-term demand will continue for "several years".
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