Bitcoin Surges 30% in a Month as Crypto Bull Run Continues; ETF Approval Could Further Boost Prices
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Bitcoin price briefly tops $36K, up 30% in past month and 93% in past year. Other cryptos like ether also seeing gains.
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Matt Hougan says bitcoin ETF approval not yet priced in since most advisors don't expect approval until 2025 or later.
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ETFs could open crypto to broader range of investors beyond just retail. 80% of US wealth controlled by advisors/institutions who need ETF access.
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Hougan compares potential impact to gold ETFs in early 2000s, which preceded longest gold price increase in modern history.
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BlackRock filing for bitcoin ETF in June helped dispel negative sentiment from FTX collapse, according to Hougan.