Crypto asset manager Bitwise has reported that a significant number of large financial institutions are preparing to acquire spot Bitcoin ETFs before the end of June.
In a note sent to investors on March 9, Bitwise chief investment officer Matt Hougan revealed the firm is in active discussions with large corporations, major financial advisory firms and institutional consultants that want to increase their exposure to Bitcoin in the near future.
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He noted Bitwise has already confirmed interest from individual retail investors, family offices, hedge funds and private equity firms to acquire more allocation in spot Bitcoin ETFs.
This strong institutional demand is believed to be one of the main drivers of Bitcoin's price rise.