{"id":630259,"date":"2024-07-18T00:30:54","date_gmt":"2024-07-18T00:30:54","guid":{"rendered":"https:\/\/wncen.com\/?p=630259"},"modified":"2024-07-17T15:35:53","modified_gmt":"2024-07-17T15:35:53","slug":"bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/","title":{"rendered":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000"},"content":{"rendered":"

As the highly anticipated launch date of spot Ethereum ETFs approaches, Matt Hougan, Chief Investment Officer of crypto asset manager Bitwise, has stressed the potential for these <\/span>ETF inflows<\/span><\/a> to drive the Ethereum price to record highs.\u00a0<\/span><\/p>\n

In a recent client note, Hougan highlighted the significant impact that ETF flows could have on the Ethereum price, surpassing even the effects witnessed in the spot Bitcoin ETF market in the US.\u00a0<\/span><\/p>\n

Ethereum ETFs Poised To Surpass Bitcoin’s Impact?\u00a0<\/span><\/h2>\n

Hougan confidently <\/span>predicts <\/span><\/a>that introducing spot Ethereum ETFs will lead to a surge in ETH\u2019s value, possibly reaching all-time highs above $5,000. However, he cautions that the first few weeks after the ETF launch could be volatile, as funds could flow out of the existing $11 billion Grayscale Ethereum Trust (ETHE) after it is converted to an ETF.\u00a0<\/span><\/p>\n

This could be similar to the case of the Grayscale Bitcoin Trust (GBTC), which saw significant outflows of over $17 billion after the <\/span>Bitcoin ETF <\/span><\/a>market was approved in January, with the first inflows recorded 5 months later on May 3.\u00a0<\/span><\/p>\n

Still, Hougan expects the market to stabilize in the long term, pushing Ethereum to record prices by the end of the year after the initial outflows subside, drawing a comparison with Bitcoin in key metrics to understand this thesis.<\/span><\/p>\n

Related Reading: \u2018Most Bullish Setup Ever\u2019: Crypto Analyst Lists 10 Reasons To Invest Now<\/a><\/div>\n

For example, Bitcoin ETFs have purchased more than twice the amount of Bitcoin compared to what miners have produced over the same period, contributing to a 25% increase in <\/span>Bitcoin’s price<\/span><\/a> since the ETF launch and a 110% increase since the market began pricing in the launch in October 2023.\u00a0<\/span><\/p>\n

\"Ethereum
BTC’s price performance since ETF approval in January. Source: Matt Hougan<\/a><\/figcaption><\/figure>\n

That said, Hougan believes the impact on Ethereum could be even more significant, and identifies three structural reasons why Ethereum’s ETF inflows could have a greater impact than Bitcoin’s.<\/span><\/p>\n

Lower Inflation, Staking Advantage, And Scarcity<\/span><\/h2>\n

The first reason Bitwise\u2019s CIO highlights is Ethereum’s lower short-term <\/span>inflation rate<\/span><\/a>. While Bitcoin’s inflation rate was 1.7% when Bitcoin ETFs launched, Ethereum’s inflation rate over the past year has been 0%.\u00a0<\/span><\/p>\n

The second reason lies in the difference between Bitcoin miners and Ethereum stakers. Due to the expenses associated with mining, Bitcoin miners <\/span>generally sell much of the Bitcoin they acquire to cover operational costs.\u00a0<\/span><\/p>\n

In contrast, Ethereum relies on a proof-of-stake (PoS) system, where users stake ETH as collateral to process transactions accurately. ETH stakers, not burdened with high direct costs, are not compelled to sell the ETH they earn. Consequently, Hougan suggests that Ethereum’s daily forced selling pressure is lower than that of Bitcoin.<\/span><\/p>\n

Related Reading: XRP Whales Are On The Move Again \u2013 Here\u2019s What They\u2019re Doing This Time<\/a><\/div>\n

The third reason stems from the fact that a substantial portion of ETH is staked and, therefore, unavailable for sale. Currently, 28% of all ETH is staked, while 13% is locked in smart contracts, effectively removing it from the market.\u00a0<\/span><\/p>\n

This results in approximately 40% of all ETH being unavailable for immediate sale, creating a considerable <\/span>scarcity <\/span><\/a>and ultimately favoring a potential increase in price for the second largest cryptocurrency on the market, depending on the outflows and inflows recorded. Hougan concluded:<\/span>
\n<\/span><\/p>\n

As I mentioned above, I expect the new Ethereum ETPs to be a success, gathering $15 billion in new assets over their first 18 months on the market\u2026 If the ETPs are as successful as I expect\u2014and given the dynamics above\u2014it\u2019s hard to imagine ETH not challenging its old record.<\/span><\/p><\/blockquote>\n

\"Ethereum
The 1-D chart shows ETH’s price trending upwards. Source: ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

ETH was trading at $3,460, up 1.5% in the past 24 hours and nearly 12% in the past seven days.<\/span><\/p>\n

Featured image from DALL-E, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As the highly anticipated launch date of spot Ethereum ETFs approaches, Matt Hougan, Chief Investment Officer of crypto asset manager Bitwise, has stressed the potential for these ETF inflows to drive the Ethereum price to record highs.\u00a0 In a recent client note, Hougan highlighted the significant impact that ETF flows could have on the Ethereum price, surpassing even the effects witnessed in the spot Bitcoin ETF market in the US.\u00a0 Ethereum ETFs Poised To Surpass Bitcoin’s Impact?\u00a0 Hougan confidently predicts that introducing spot Ethereum ETFs will lead to a surge in ETH\u2019s value, possibly reaching all-time highs above $5,000. However, he cautions that the first few weeks after the ETF launch could be volatile, as funds could flow out of the existing $11 billion Grayscale Ethereum Trust (ETHE) after it is converted to an ETF.\u00a0 This could be similar to the case of the Grayscale Bitcoin Trust (GBTC), which saw significant outflows of over $17 billion after the Bitcoin ETF market was approved in January, with the first inflows recorded 5 months later on May 3.\u00a0 Still, Hougan expects the market to stabilize in the long term, pushing Ethereum to record prices by the end of the year after the initial outflows subside, drawing a comparison with Bitcoin in key metrics to understand this thesis. Related Reading: \u2018Most Bullish Setup Ever\u2019: Crypto Analyst Lists 10 Reasons To Invest Now For example, Bitcoin ETFs have purchased more than twice the amount of Bitcoin compared to what miners have produced over the same period, contributing to a 25% increase in Bitcoin’s price since the ETF launch and a 110% increase since the market began pricing in the launch in October 2023.\u00a0 That said, Hougan believes the impact on Ethereum could be even more significant, and identifies three structural reasons why Ethereum’s ETF inflows could have a greater impact than Bitcoin’s. Lower Inflation, Staking Advantage, And Scarcity The first reason Bitwise\u2019s CIO highlights is Ethereum’s lower short-term inflation rate. While Bitcoin’s inflation rate was 1.7% when Bitcoin ETFs launched, Ethereum’s inflation rate over the past year has been 0%.\u00a0 The second reason lies in the difference between Bitcoin miners and Ethereum stakers. Due to the expenses associated with mining, Bitcoin miners generally sell much of the Bitcoin they acquire to cover operational costs.\u00a0 In contrast, Ethereum relies on a proof-of-stake (PoS) system, where users stake ETH as collateral to process transactions accurately. ETH stakers, not burdened with high direct costs, are not compelled to sell the ETH they earn. Consequently, Hougan suggests that Ethereum’s daily forced selling pressure is lower than that of Bitcoin. Related Reading: XRP Whales Are On The Move Again \u2013 Here\u2019s What They\u2019re Doing This Time The third reason stems from the fact that a substantial portion of ETH is staked and, therefore, unavailable for sale. Currently, 28% of all ETH is staked, while 13% is locked in smart contracts, effectively removing it from the market.\u00a0 This results in approximately 40% of all ETH being unavailable for immediate sale, creating a considerable scarcity and ultimately favoring a potential increase in price for the second largest cryptocurrency on the market, depending on the outflows and inflows recorded. Hougan concluded: As I mentioned above, I expect the new Ethereum ETPs to be a success, gathering $15 billion in new assets over their first 18 months on the market\u2026 If the ETPs are as successful as I expect\u2014and given the dynamics above\u2014it\u2019s hard to imagine ETH not challenging its old record. ETH was trading at $3,460, up 1.5% in the past 24 hours and nearly 12% in the past seven days. Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":630261,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,92688,92366,84816,6931,8686,78803,16260,91198],"class_list":["post-630259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethereum-etf-launch","tag-ethereum-etf-news","tag-ethereum-etfs","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-latest-ethereum-news","tag-spot-ethereum-etfs"],"acf":[],"yoast_head":"\nBitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000<\/title>\n<meta name=\"description\" content=\"As the launch date of spot Ethereum ETFs approaches, Matt Hougan, has stressed the potential to drive the Ethereum price to record highs.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000\" \/>\n<meta property=\"og:description\" content=\"As the launch date of spot Ethereum ETFs approaches, Matt Hougan, has stressed the potential to drive the Ethereum price to record highs.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-18T00:30:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-17T15:35:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735\" \/>\n\t<meta property=\"og:image:width\" content=\"1169\" \/>\n\t<meta property=\"og:image:height\" content=\"735\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ronaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Rmmcapital\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ronaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\"},\"author\":{\"name\":\"Ronaldo Marquez\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\"},\"headline\":\"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000\",\"datePublished\":\"2024-07-18T00:30:54+00:00\",\"dateModified\":\"2024-07-17T15:35:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\"},\"wordCount\":652,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735\",\"keywords\":[\"ETH\",\"ethereum\",\"Ethereum ETF Launch\",\"Ethereum ETF News\",\"Ethereum ETFs\",\"ethereum price\",\"ethusd\",\"ETHUSDT\",\"Latest Ethereum News\",\"Spot Ethereum ETFs\"],\"articleSection\":[\"Ethereum\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\",\"name\":\"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735\",\"datePublished\":\"2024-07-18T00:30:54+00:00\",\"dateModified\":\"2024-07-17T15:35:53+00:00\",\"description\":\"As the launch date of spot Ethereum ETFs approaches, Matt Hougan, has stressed the potential to drive the Ethereum price to record highs.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735\",\"width\":1169,\"height\":735,\"caption\":\"Ethereum\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c\",\"name\":\"Ronaldo Marquez\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g\",\"caption\":\"Ronaldo Marquez\"},\"description\":\"Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.\",\"sameAs\":[\"https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=\",\"https:\/\/x.com\/Rmmcapital\"],\"url\":\"https:\/\/wncen.com\/author\/ronaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000","description":"As the launch date of spot Ethereum ETFs approaches, Matt Hougan, has stressed the potential to drive the Ethereum price to record highs.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/","og_locale":"en_US","og_type":"article","og_title":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000","og_description":"As the launch date of spot Ethereum ETFs approaches, Matt Hougan, has stressed the potential to drive the Ethereum price to record highs.\u00a0","og_url":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-07-18T00:30:54+00:00","article_modified_time":"2024-07-17T15:35:53+00:00","og_image":[{"width":1169,"height":735,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735","type":"image\/jpeg"}],"author":"Ronaldo Marquez","twitter_card":"summary_large_image","twitter_creator":"@Rmmcapital","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Ronaldo Marquez","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/"},"author":{"name":"Ronaldo Marquez","@id":"https:\/\/wncen.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c"},"headline":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000","datePublished":"2024-07-18T00:30:54+00:00","dateModified":"2024-07-17T15:35:53+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/"},"wordCount":652,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735","keywords":["ETH","ethereum","Ethereum ETF Launch","Ethereum ETF News","Ethereum ETFs","ethereum price","ethusd","ETHUSDT","Latest Ethereum News","Spot Ethereum ETFs"],"articleSection":["Ethereum"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/","url":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/","name":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735","datePublished":"2024-07-18T00:30:54+00:00","dateModified":"2024-07-17T15:35:53+00:00","description":"As the launch date of spot Ethereum ETFs approaches, Matt Hougan, has stressed the potential to drive the Ethereum price to record highs.\u00a0","breadcrumb":{"@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735","width":1169,"height":735,"caption":"Ethereum"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/23849d4cdb61b3b34c9e7e5fea0a9a6c","name":"Ronaldo Marquez","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/327ecc4c8e744ef573507a8dd49440d7?s=96&d=mm&r=g","caption":"Ronaldo Marquez"},"description":"Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/wncen.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000","url":"http:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethereum etf launch","ethereum etf news","ethereum etfs","ethereum price","ethusd","ethusdt","latest ethereum news","spot ethereum etfs"],"dateCreated":"2024-07-18T00:30:54Z","datePublished":"2024-07-18T00:30:54Z","dateModified":"2024-07-18T00:30:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/bitwise-cio-bullish-on-ethereum-etfs-fueling-surge-to-record-highs-above-5000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Screenshot_284.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Screenshot_284.jpg?fit=1169%2C735\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethereum etf launch\",\"ethereum etf news\",\"ethereum etfs\",\"ethereum price\",\"ethusd\",\"ethusdt\",\"latest ethereum news\",\"spot ethereum etfs\"],\"dateCreated\":\"2024-07-18T00:30:54Z\",\"datePublished\":\"2024-07-18T00:30:54Z\",\"dateModified\":\"2024-07-18T00:30:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Screenshot_284.jpg?fit=1169%2C735","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/630259"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=630259"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/630259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/630261"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=630259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=630259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=630259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}