Odaily News Matt Hougan, chief investment officer of Bitwise, said that Merrill Lynch, Morgan Stanley, Wells Fargo and UBS, four major financial institutions (managing more than $10 trillion in client assets), are expected to fully support Bitcoin ETF products by the end of this year. Although Bitcoin ETFs have not seen as much inflows at the beginning of this year as in the same period of 2024 (it has only attracted about $4 billion so far, compared with $11.8 billion in the same period last year), Hougan still predicts that 2025 will set a new record for net inflows. He pointed out that institutional participation is increasing across the board-nine of the world's top ten hedge funds already hold Bitcoin, including institutional investors such as Emory University and the Texas Teachers' Retirement System, and large asset management companies such as BlackRock have also joined the market. These factors will drive more investors into the Bitcoin market. (The Block)