Bitwise Chief Investment Officer: A large amount of funds are waiting on the sidelines, waiting to enter the market after the US crypto regulatory ri

On October 16, Bitwise Chief Investment Officer Matt Hougan stated that recent comments by US Vice President Harris regarding cryptocurrency indicate that if regulatory agencies give the green light, investors will flock to the digital asset market.

On Monday, Harris pledged to support a regulatory framework that protects Black investors who own cryptocurrency. Hougan pointed out in a blog post that Harris' proposal coincided with a 5% increase in the price of Bitcoin and a $555.8 million inflow into Bitcoin spot ETF, the largest inflow since June 4.

He added, "Regardless of what Harris said, the price movement that day tells me that there is a lot of money on the sidelines waiting for the all-clear signal to enter the market."