Bitwise Chief Investment Officer Matt Hougan on Wednesday that despite a bumpy rollout, President Donald Trump's strategic crypto reserve announcement remains bullish for the market, a view tempered by industry critique over its scope.

Trump proposes Bitcoin and Ethereum's inclusion in the US crypto reserve, citing regulatory relief and US blockchain competitiveness aims.

When US president Donald Trump picked out a handful of cryptocurrencies for potential inclusion in a national strategic reserve, he sparked a trading frenzy—and questions about who stands to benefit.