Matt Hougan, Chief Investment Officer at the crypto asset management firm Bitwise, predicts that four major U.S. wirehouses — Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS — will fully open access to spot Bitcoin ETFs by the end of 2025.
Matt Hougan, Chief Investment Officer at Bitwise, stated that the four major U.S. wirehouses — Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS — are expected to fully open access to spot Bitcoin ETFs by the end of 2025. These institutions collectively manage over $10 trillion…
— Wu Blockchain (@WuBlockchain) April 30, 2025
Wirehouses are major financial institutions that offer comprehensive financial services to clients. Their services can include investment banking, asset management, and wealth management. Wirehouses also have extensive networks of financial advisors catering to diverse client needs.
If Hougan’s predictions come to pass, the Bitcoin ETF market and the crypto space at large will experience a surge in investment by the end of the year as these financial giants collectively manage over $10 trillion in client assets.
This development could bring significant liquidity and stability to the Bitcoin ETF market, as it will attract an influx of other institutional investors.
The Growth of Bitcoin ETFs
The United States Securities and Exchange Commission (SEC) approved the first spot bitcoin ETF in January 2024. Since then, the sector has seen significant growth amid market volatility and instability. As the performance of the Bitcoin ETF market is primarily influenced by the performance of the underlying asset, Bitcoin, the ETF market has experienced significant turbulence, with periods of remarkable growth and sharp declines.
For instance, last June, the Bitcoin ETF recorded outflows of more than $580 million after Bitcoin’s value declined. However, last week, when Bitcoin’s value almost reached $94,000, Bitcoin ETFs recorded inflows, nearing $1 billion.
Bitwise’s Crypto ETF Portfolio
The realization of Bitwise CIO’s prediction could lead to a substantial influx of capital into the ETF market, paving the way for the creation and launch of more ETFs, which will offer investors even more options for diversifying their portfolios and tapping into emerging trends.
Meanwhile, Bitwise has established itself as a key player in the ETF market, having filed for several ETFs, including those for Bitcoin, BITB, Ether, XRP, and Dogecoin. Recently, the firm submitted an S-1 application to the SEC, seeking to list an Aptos (APT) ETF.
