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

Bitwise Chief Investment Officer Matt Hougan said that U.S. Vice President Harris' recent comments on cryptocurrencies show that investors will flock to the digital asset market if regulators give the green light. On Monday, Harris pledged to support a regulatory framework that protects Black people from investing in and owning cryptocurrencies. Hougan noted in a blog post that Harris' proposal coincided with a 5% rise in Bitcoin prices on Monday and $555.8 million inflows into Bitcoin spot ETFs, the largest inflow since June 4. He added: "Regardless of what Harris said, the price action on the day tells me that there is a lot of money on the sidelines waiting for the all-clear to enter the market." (The Block)