On October 16, Matt Hougan, chief investment officer of Bitwise, said that recent comments by US Vice President Harris on cryptocurrencies suggest 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 and owning cryptocurrencies. Hougan noted in a blog post that Harris' proposal coincided with a 5% rise in bitcoin prices on Monday, with $555.80 million flowing into a bitcoin spot ETF, the largest inflow since June 4. He added: "Regardless of what Harris said, the price action of the day tells me that there is a lot of money sitting on the sidelines, waiting for the alarm to be lifted to enter the market."