Bitwise Invest CIO Matt Hougan defended the rapid adoption of spot Bitcoin ETFs by investment advisors, countering claims by market researcher Jim Bianco that adoption has been limited. Hougan highlighted that BlackRock’s spot Bitcoin ETF has attracted $1.5 billion in net flows from investment advisors, marking it as one of the fastest-growing ETFs in history. Bloomberg ETF analyst Eric Balchunas supported Hougan’s view, noting that the BlackRock ETF’s advisor allocations have seen more organic inflows than any other new ETF this year. Bianco had suggested that most inflows came from existing Bitcoin holders rather than new investors, but Hougan and Balchunas argue that investment advisors are quickly embracing Bitcoin ETFs. Source: The Block