Odaily Planet Daily News Matt Hougan, Chief Investment Officer (CIO) of Bitwise, an encryption index fund management company, said that driven by the long-awaited wave of institutional interest, a multi-year bull market is kicking off.

Cryptocurrency prices have shown incredible resilience in the face of increased regulatory scrutiny, Matt Hougan said in an interview with Bloomberg. BlackRock's iShares recently submitted iShares Bitcoin Trust application documents, which may be the icing on the cake for a new round of bull market.
"Prices (of cryptocurrencies) have actually been going up since the FTX crash last November. Now BlackRock, the world's largest asset management company, has taken a stand on the issue, saying that Bitcoin is important, and that's why institutional investors are going to invest in the next five years." The asset you want to own in ten years. I think we’ve entered a new era of crypto. I call it the ‘mainstream era of crypto.’ I think we’ve entered a bull market that’s just started and is multi-year.”
He also predicts a new chapter of growth beyond asset prices. Crypto stocks are now about to boom and predict a wave of new crypto companies going public. “As Bitcoin and other cryptoassets continue to rise, companies interested in the crypto space and crypto infrastructure companies will see stronger performance. As a result, I expect the IPO pipeline to open. More broadly, crypto stocks Actually outperformed crypto asset prices. Our crypto stock index is up over 100% this year, so we're definitely going to see more new listings. We're going to see skyrocketing growth in this industry, which I think is great for crypto A very exciting time.” (The Daily Hodl)
According to previous reports, Bitwise Asset Management has submitted a new application document to the US SEC on June 16, requesting to modify the rules to adapt to its planned Bitwise Bitcoin ETP Trust.