Veteran analyst who called 2024 rally poised to nail Wall Street prediction

Veteran analyst who called 2024 rally poised to nail Wall Street prediction originally appeared on TheStreet.

Bitwise chief investment officer Matt Hougan is well-known for his sharp takes on the crypto markets as he combines enormous institutional experience with a forward-looking outlook.

The veteran analyst predicted in September 2024 that he expected a crypto rally soon. Lo and behold, Donald Trump's presidential re-election in November indeed led to an astonishing rally.

Now, Hougan has shared a note he wrote on June 24, 2024, a month ahead of the U.S. launch of spot Ethereum exchange-traded funds (ETFs) on July 23, 2024.

A crypto ETF is a type of fund that provides indirect exposure to crypto assets such as ETH, allowing traders to buy and sell ETF shares on traditional stock exchanges. Crypto ETFs are designed to track the performance of cryptocurrencies and offer indirect crypto exposure without the need to directly own virtual assets.

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Hougan had predicted that Ethereum ETFs will attract $15 billion within 18 months of the launch.

Ethereum ETFs surpass Bitcoin ETFs

It has been more than 12 months since the launch of Ethereum ETFs, which saw Wall Street giants such as BlackRock (NYSE: BLK), Franklin Templeton (NYSE: BEN), Fidelity, Grayscale, and Bitwise launching their offerings.

As per Coinglass, the total net inflow into these funds over the last 12 months has surpassed $9.65 billion at the time of writing. If these ETFs accumulate around $5.5 billion over the next six months, Hougan's prediction will indeed come true.

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Notably, net inflow into spot Ethereum ETFs has risen sharply over the past few days, data shows. During July 21-29, these funds led with $2.1 billion in inflows. Bitcoin ETFs, on the other hand, saw an inflow of only $309.4 million during the same period.

Comparing the price trajectories of the two leading cryptocurrencies is also crucial. While BTC fell 0.5% over the last seven days, ETH rose more than 4%. As BTC rose 9.6% over the last month, ETH rose a massive 53%. Over the past year, BTC soared more than 78% but ETH rose only 14% underlining the Ethereum rally is pretty recent.

Story ContinuesAt press time, BTC was trading at $117,804.74 and ETH was trading at $3,804.65

Veteran analyst who called 2024 rally poised to nail Wall Street prediction first appeared on TheStreet on Jul 30, 2025

This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared.

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