VanEck

This week, Tushar Jain & Pranav Kanade join the show to discuss the current state of markets. We deep dive into where are we in the cycle, where to allocate in 2026, how to value tokens, stablecoin chains & more. Enjoy! -- Follow Tushar: https://x.com/tushar_jain Follow Pranav: https://x.com/vaneckpk Follow Santi: https://x.com/santiagoroel Follow Empire: https://x.com/theempirepod -- Coinbase crypto-backed loans, powered by Morpho, enable you to take out loans at competitive rates using crypto as collateral. Rates are typically 4% to 8%. Borrow up to $5M using BTC as collateral and up to $1M using ETH as collateral. Manage crypto-backed loans directly in the Coinbase app with ease. Learn more here: https://www.coinbase.com/onchain/borrow/get-started?utm_campaign=0126_defi-borrow_blockworks_empire&marketId=0x9103c3b4e834476c9a62ea009ba2c884ee42e94e6e314a26f04d312434191836&utm_source=empire -- Join us at DAS (Digital Asset Summit) in New York City this March! Follow the link below to grab your ticket, and use code EMPIRE200 to get $200 off your ticket! https://blockworks.co/event/digital-asset-summit-nyc-2026 -- Timestamps: (00:00) Introduction (01:20) Where Are We In The Market Cycle? (06:35) Allocating In Crypto (16:12) Coinbase Ad (16:57) DAS Plug (17:22) How To Value Crypto Tokens (32:28) Investing In Apps vs L1s (38:10) Crypto Social & Stablecoin Chains (53:00) Investing In AI (59:40) Positioning In 2026 -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, Rob and our guests may hold positions in the companies, funds, or projects discussed.

Tushar Jain

EVP of Engineering

DockerMulticoin Capital

Pranav Kanade

Portfolio Manager

VanEck

Thank you to our sponsor, Figure! As tensions between the Trump administration and the Federal Reserve rise, gold and silver have surged to record highs. Bitcoin, meanwhile, has struggled to keep pace, raising uncomfortable questions about its “digital gold” narrative. In this back-to-back Unchained episode, Vinny Lingham, cofounder of Xash, and Eric Fine, portfolio manager at VanEck, offer two distinct but complementary perspectives on what’s happening beneath the surface of global markets. Vinny explains why gold’s liquidity, trust, and central-bank adoption still dwarf Bitcoin’s, and why that gap led him to design a gold-backed, reward-bearing stablecoin, USDX. Eric walks through VanEck’s provocative analysis showing gold could reach $39,000 or even $184,000 if the dollar were to lose its reserve-currency dominance and gold had to back the money supply. He also dives into why some developed markets may be more fragile than investors assume. Guests: Vinny Lingham, Co-founder, and President of Xash Eric Fine, Portfolio Manager, Active Emerging Markets Debt at VanEck Links: Why Gold and Bitcoin Work Best Together Why Bitcoin Is Tanking Despite Gold Reaching High After High How Venezuela Shows Why Bitcoin, Crypto and Stablecoins Help Everyday People Bitcoin Rallies to $93,000 After U.S. Attack on Venezuela Learn more about your ad choices. Visit megaphone.fm/adchoices

Vinny Lingham

Co-Founder & CEO

WaitroomCivicCivic TechnologiesXashPRPraxosPCPraxos Capital

Eric Fine

Portfolio Manager

VanEck

This week, Pranav Kanade joins the show to discuss the current state of markets. We deep dive into how Pranav finds alpha in crypto, Mamdani's win in NY, have we topped, are L1s overpriced, why the hot money is in AI & more. Enjoy! -- Follow Pranav: https://x.com/vaneckpk Follow Santi: https://x.com/santiagoroel Follow Jason: https://x.com/JasonYanowitz Follow Empire: https://twitter.com/theempirepod -- Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh -- Zcash is encrypted Bitcoin. Your digital bill of rights securing your freedom for the 21st century. Buy, store and spend ZEC privately using Zashi Wallet download today: https://electriccoin.co/zashi/ -- Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users. Pre-deposit now: Earn high APRs with Turtle Club [https://app.turtle.club/campaigns/katana] or spin the wheel with Katana Krates [https://app.katana.network/krates] -- (00:00) Intro (02:49) The Opportunity For Tokenization (10:27) Mamdani Wins In NY (27:35) Finding Alpha In Crypto (32:05) Ads (Zcash, Katana) (33:17) Are L1s Overpriced? (36:18) Can People Actually Outperform BTC? (45:32) Have We Topped? (49:47) The Hot Money Is In AI (59:08) Ads (Zcash, Katana) (01:00:21) Can Crypto Ever Get To 100m+ Active Users? (01:12:42) Content of The Week -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Pranav Kanade

Portfolio Manager

VanEck

A new company called Twenty One is making waves—with a launch strategy that echoes Strategy (formerly MicroStrategy), a cap table that includes Tether, SoftBank, and Cantor Fitzgerald, and a plan to acquire more Bitcoin than anyone else. They’re starting with 42,000 BTC, worth nearly $4 billion, and they’ve hinted they’ll use convertible debt, equity raises, and other market mechanics to buy more. But is this just a smarter MicroStrategy? Or a recipe for financial reflexivity gone wrong? In this episode, Matthew Sigel, head of digital assets research at VanEck, digs into: How the strategy works and why it could break What happens if the stock trades below NAV Why timing the market may be a feature, not a bug And whether this signals a new phase in corporate Bitcoin exposure Sigel also shares a bold idea for “BIT Bonds” that could let the U.S. Treasury issue Bitcoin-linked government debt. Could it work? Plus, Unchained regulatory reporter Veronica Irwin talks about her scoop that we might see a crypto market structure bill as early as this week.  Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Bitkey: Use code UNCHAINED for 20% off FalconX Mantle Guest Matthew Sigel, Head of Digital Assets Research at VanEck Links Unchained:  Press Release: Tether, SoftBank Group, and Jack Mallers Launch Twenty One, a Bitcoin-native Company, Through a Business Combination With Cantor Equity Partners The Block: Strike founder Jack Mallers to lead Tether-backed multi-billion bitcoin buying venture, Twenty One Capital Ryan Watkins’ post on X Jeff Park’s post on X Timestamps: 👋 0:00 Introduction 🚀 4:59 How Twenty One plans to buy more bitcoin than anyone else ⚠️ 7:23 The key risks behind the reflexive BTC acquisition strategy 📈 12:38 Why more companies are copying the MicroStrategy playbook 👔 16:17 Jack Mallers’ role and why the CFO matters even more here 💥 17:55 Could one bad move blow these companies up? 💰 22:28 The types of investors this model attracts ⏳ 25:40 Did Twenty One launch at the worst possible time? 🤔 26:58 How to think about investing in BTC vs. these BTC-heavy stocks 🇺🇸  28:23 Unchained regulatory reporter Veronica Irwin on why a market structure bill might be on its way relatively soon 📰 35:31 Crypto News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Matthew Sigel

Head of Digital Assets Research

VanEck

Gm! This week we're joined by David Kalk & Pranav Kanade to discuss the current state of crypto markets. We deep dive into the unwinding of the basis trade, what's next for BTC & alt's, the psychology of trading, market reflexivity, is the cycle over & much more. Enjoy! -- Follow David: https://www.linkedin.com/in/davidkalk/ Follow Pranav: https://x.com/vaneckpk Follow Jason: https://twitter.com/JasonYanowitz Follow Empire: https://twitter.com/theempirepod Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh Start your day with crypto news, analysis and data from Katherine Ross. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts -- ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with limitless scale. Secured by math and designed for native interoperability, ZKsync enables an elastic, ever-expanding network of customizable chains. Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership universally available. To learn more about ZKsync, visit http://www.zksync.io -- GEODNET’s native token, GEOD, can be easily mined with a GEODNET Satellite Miner, presenting a unique opportunity to generate passive income. By setting up a GEODNET base station, you can join this groundbreaking Web3 ecosystem that is powering the future of AI and robotics. Join the revolution today and learn more at https://geodnet.com. -- Petra Earn was designed to make DeFi more accessible for everyone—from seasoned pros to DeFi beginners. Manage your balance, claim rewards and deposit directly from the app. By supplying USDT to Aries lending pools, users have the potential to earn a higher yield compared to some traditional methods. Not financial advice. Participating in Defi carries risks. To learn more visit petra.app/earn -- Get up to speed on the biggest stories in crypto each week. In five minutes. Get the Bitwise Weekly CIO Memo delivered directly to your inbox at bitwiseinvestments.com/ciomemo/empire -- WalletConnect is the onchain connectivity network . If you’ve connected to a Web3 app, you’ve seen WalletConnect. It’s everywhere—an icon of trust in crypto, as recognizable as Visa at checkout. The numbers speak for themselves: Over 220 million connections and 35 million users worldwide use WalletConnect to power their Web3 experience. @WalletConnect on X and Telegram or visit https://WalletConnect.Network -- Timestamps: (00:00) Introduction  (00:47) State Of The Market (05:07) Unwinding Of The Basis Trade (10:40 Ads (ZKSync, Geodnet) (12:42) Finding The Best Trade In Crypto (15:42) Reflexivity In Crypto (19:40) Allocating To Crypto (22:02) Ads (ZKSync, Geodnet) (24:04) Why Have Alt’s Underperformed? (28:08) Is The Cycle Over? (40:13) Ads (Aptos, Bitwise, WalletConnect) (42:32) How Does Macro Impact Crypto? (46:08) Trading This Cycle (49:55) Narratives vs Fundamentals (53:32) A Framework For Investing In Crypto (58:35) Crypto Market Inefficiencies (01:00:30) The Psychology Of Trading -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

David Kalk

Portfolio Manager

VanEckRCReflexive Capital

Pranav Kanade

Portfolio Manager

VanEck

In this episode, David Kalk of Reflexive Capital and Jeff Park of Bitwise explore the critical role of psychology in crypto trading. They argue that mastering one's emotions and biases is the key to outperforming in the highly volatile and reflexive crypto markets. They unpack the limitations of traditional venture approaches, the potential for liquid strategies, and why psychological resilience may be the most valuable edge in today's crypto landscape. They share their perspectives on managing trading psychology, adapting to market regimes, and the future of institutional crypto investing. - - Start your day with crypto news, analysis and data from Katherine Ross and David Canellis. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts Follow David: https://www.linkedin.com/in/davidkalk/ Follow Jeff: https://x.com/dgt10011 Follow Jason: https://twitter.com/JasonYanowitz Follow Santiago: https://twitter.com/santiagoroel Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - The 6th edition of Meridian, a web3 conference hosted by the Stellar Development Foundation is happening in London, England October 15-17, 2024. Learn more and get your early-bird priced tickets now at meridian.stellar.org by using the code BLOCKWORKSPOD. - - Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Start building today at https://www.avax.network/ - - Harpie sets the standard in on-chain security, actively monitoring and safeguarding your crypto wallet against theft in real time. It detects, blocks, and recovers stolen assets from risky transactions before they execute, shielding you from even the most advanced hacks and scams. Harpie is free to use and compatible with all Ethereum, Base, Polygon, and Arbitrum wallets. Protect your crypto today at harpie.io. - - Renaud Partners has built the most elite network of native crypto marketers globally. They create custom, expert teams to support founders with transformative strategy work. If you’re a founder or a VC looking for support for your teams, head on over to RenaudPartners.com or give their co-founder Geoff a follow on x at https://x.com/ReoffGenaud - - Timestamps: (00:00) Introduction (02:58) David & Jeff Intros (06:03) Crypto's Liquid Inefficient Market (25:07) LP Priorities (29:24) Liquid vs Private Markets (31:57) Value of Psychological Edge (44:29) Stellar Ad (45:17) Invisible North Ad (46:12) Avalanche Ad (47:09) Harpie Ad (48:01) Navigating Market Environment (01:03:37) Managing Emotions in Markets (01:12:29) Is Crypto Worth it? - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

David Kalk

Portfolio Manager

VanEckRCReflexive Capital

Jeff Park

Head of Alpha Strategies

Bitwise Asset ManagementBitwise

In this episode, David Hoffman is joined by Matthew Sigel, Head of Digital Assets Research at VanEck, to unpack VanEck's groundbreaking ETH 2030 report. They discuss the $154,000 bull case, $22,000 base case, and $340 bear case for Ethereum, and the factors behind these predictions.  Matthew dives deep into the role of ETH ETFs and shares insights into ETH's evolving narrative in institutional portfolios. He also provides interesting analogies and comparisons between ETH and Web 2.0, explaining how VanEck will help traditional investors understand and invest in ETH using these narratives and real market data.  ------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/16  ------ 📣STAKEWISE | LIQUID SOLO STAKING https://bankless.cc/Pod_StakeWise    ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  ⚡️CARTESI | LINUX-POWERED ROLLUPS https://bankless.cc/CartesiGovernance    ⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum    🌐 TRANSPORTER | CROSS CHAINS WITH CONFIDENCE https://transporter.io/  🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo  ------ TIMESTAMPS 0:00 Intro 7:16 VanEck Vibe Check ? 8:11 VanEck ETH 2030 Price Prediction Report  12:31 Last Year’s Report vs. Present Report  15:10 Ethereum Narrative For Retail 19:14 Pitching ETH To Customers 25:15 Parameters For Bear, Base & Bull? 28:49 What If ETH Reaches $154,000  32:31 ETH’s Most Bearish & Bullish Scenarios  33:40 Solana’s MEV vs. ETH’s MEV 41:28  BTC & ETH Allocation In Portfolio  45:59 Can Data Help Matthew Convince Customers? 49:30 $15B In ETF Assets 50:30 Closing & Disclosures  ------ RESOURCES: Matthew Sigel https://x.com/matthew_sigel  VanEck https://www.vaneck.com/us/en/  https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-eth-2030-price-target/  ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠

Matthew Sigel

Head of Digital Assets Research

VanEck

Thursday was a momentous day in crypto as the first SEC-approved spot Bitcoin ETFs finally began trading after more than a decade of waiting, and by almost all accounts, it was a huge success, with more than $625 million in inflows on the first day of trading.  Bitwise CIO Matt Hougan and VanEck head of digital assets research Matthew Sigel joined Unchained to discuss their approaches towards selling their products in the market, the challenges of competing with larger firms like BlackRock and Fidelity, the fee wars and where those are headed, the importance of specialist expertise in the crypto investment space, and how Bitcoin prices might react to all the new supply in the market.  Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: Why Matt Hougan regards the first week as a massive success for Bitcoin How Matthew Sigel emphasizes the costs and benefits ETFs offer to retail investors The strategic marketing approaches of VanEck and Bitwise aligning with Bitcoin community values The reasons for Bitwise's standout performance in the first days of trading, according to Matt Whether the introduction of Bitcoin ETFs will reshape the broader ETF landscape Matt's perspective on why some financial institutions resist Bitcoin, and their eventual openness to crypto Whether the established players in finance feel threatened by the rise of open source technologies Whether Gary Gensler’s statement after the approval is “totally crazy” Why data for the various ETFs in the market should be analyzed on a weekly or monthly basis The ongoing fee competition and how smaller entities can compete against giants like BlackRock and Fidelity Grayscale's strategies to remain competitive with higher fees and the possibility of launching a new, low-fee ETF How investment advisors might adapt to these new crypto products and the potential for mainstream adoption Matthew’s predictions for when BTC investors, both short-term and long-term, will take profits Why they are both closely monitoring Ethereum's performance and the prospects for a spot ether ETF in the market Thank you to our sponsors! Arbitrum Foundation Popcorn Network Guests: Matt Hougan, Chief Investment Officer at Bitwise Asset Management Previous appearances on Unchained: Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Matthew Sigel, Head of Digital Assets Research at VanEck. Links Previous coverage of Unchained on spot Bitcoin ETFs: Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday  Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF Will a Spot Bitcoin ETF Finally Get Approved? The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection Approval: Unchained:  Spot Bitcoin ETFs Finally Receive SEC Seal of Approval What Officials, ETF Issuers, and Others Are Saying About the SEC's Spot Bitcoin ETF Approvals Laura Shin’s op-ed on Unchained: Why Spot Bitcoin ETFs Are (But Mostly Aren't) a Big Deal for Crypto David Z. Morris’ op-ed on Unchained: The SEC’s Bumbling Bitcoin ETF Rollout Was Perfectly On-Brand First days of trading Unchained:  Spot Bitcoin ETFs Record $4.6 Billion First Day Trading Volume Spot Bitcoin ETF Inflows Topped $625 Million on First Day in ‘Phenomenal’ Debut, Led by Bitwise Vanguard Isn’t Allowing Customers to Buy Spot Bitcoin ETFs Visit Unchained for more links and details Learn more about your ad choices. Visit megaphone.fm/adchoices

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Matthew Sigel

Head of Digital Assets Research

VanEck

In today’s episode, Matthew goes over VanEck’s 15 hottest 2024 crypto predictions report. Matthew Sigel is the Head of Digital Assets Research at VanEck and has been since 2021.  ----- 🏹 Airdrop Hunter is HERE, join your first HUNT today https://bankless.cc/JoinYourFirstHUNT  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE ⁠https://k.xyz/bankless-pod-q2 🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING ⁠https://bankless.cc/MetaMask ⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum  ⁠  👾GMX | V2 IS NOW LIVE  https://bankless.cc/GMX  🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   🦄UNISWAP | ON-CHAIN MARKETPLACE ⁠https://bankless.cc/uniswap  ------ TIMESTAMPS 0:00 Intro 4:55 VanEck Predictions Origin 5:53 Recession & Spot BTC ETF 8:06 4th Bitcoin Halving  11:45 BTC All-Time High 14:15 Ethereum Flip Bitcoin?  18:38 Post-EIP-4844 L2 Capture 22:26 NFT Activity Rebound 24:33 Binance  28:05 Stablecoin Market Cap 32:16 DEX’s All-Time Highs 37:17 Bitcoin Yield? 40:49 Blockchain Gaming 43:20 Solana Outperforms ETH     47:15 DePin 53:05 Corporate Holding Upside 56:24 DeFi & KYC 1:03:31 Closing & Disclaimers ------ RESOURCES Matthew Sigel https://twitter.com/matthew_sigel   VanEck Predictions Report https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-15-crypto-predictions-for-2024/#us-recession-arrival-and-debut-of-spot-bitcoin-etfs     VanEck Solana Report https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-base-bear-bull-case-solana-valuation-by-2030/   ------ Not financial or tax advice. See our investment disclosures here: https://bankless.com/disclosures

Matthew Sigel

Head of Digital Assets Research

VanEck

In today's episode of Empire Jason is joined by Jan van Eck, CEO of VanEck, a firm overseeing $76.4 billion in assets, and Martin Leinweber, a digital asset strategist at Market Vector Indexes. They dive into conversation ranging from the macroeconomic climate to the prospects of a Bitcoin ETF approval. They dissect how MarketVector aims to capture crypto native value through Ethereum staking rewards and other on-chain metrics, the demand for these products from institutions, and how MarketVector creates investible crypto products for institutions to get exposure.  - - Follow Jan van Eck: https://twitter.com/JanvanEck3 Follow Martin Leinweber: https://twitter.com/mleinweber2 Follow Jason: https://twitter.com/JasonYanowitz Follow Santiago: https://twitter.com/santiagoroel Follow Empire: https://twitter.com/theempirepod Subscribe on YouTube: https://tinyurl.com/4fdhhb2j Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/  - - Planning to grant token awards for your team? Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax support to grant and administer your global team’s tokens. Toku navigates it across the lifecycle — from easy to use token grant award templates through tracking vesting to managing tax withholdings. Make it simple today, at https://www.toku.com/empire - - Timestamps: (00:00) Macro Sentiment Check (07:51) Budget Deficit Concern: Overblown? (14:15) The van Eck Origin Story (18:31) The 60-40 Portfolio (22:23) Bitcoin ETF Likelihood in 2023 vs 2024 (28:11) Toku Ad (29:25) MarketVector Changing Data and Indices (40:46) Demand for Onchain Yield (45:19) Corporate Strategy Focus on Crypto (48:48) Identifying Tokens with Economic Traction (53:15) Central Banks Buying BTC - - Resources - - Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Jan van Eck

CEO

VanEck

Martin Leinweber

Digital Asset Product Strategist

MarketVector Indexes

Pranav Kanade is a portfolio manager at VanEck. In this episode, Kanade analyzes some of the trends and opportunities that he sees playing out during the current crypto bear market. Kanade says that crypto builders should be focusing on building products that help onboard new users into the ecosystem: "If I were to criticize this space for something, it's that a lot of people are too focused on building things for the existing user base rather than building things for people that are not current users... I'd love to see more of that.The VanEck Ethereum Strategy ETF launched in early October as one of the first ETFs ever to launch based on ether futures.

Pranav Kanade

Portfolio Manager

VanEck

“We’ll be back." This November, the U.S. Securities and Exchange Commission rejected a proposal to list a spot bitcoin exchange-traded fund (ETF) from VanEck, only to approve VanEck's bitcoin futures-based fund a few days later. While VanEck may not have been able to launch a spot ETF at the time, the firm sees a silver lining in the reaction from policymakers in Congress. “For the SEC to have gotten a letter from both a Republican and a Democrat in favor of approval of the Bitcoin ETF was, to me was very positive in the absence of a lot of negative noise around the approval," VanEck CEO Jan van Eck said during the latest episode of The Scoop podcast. Van Eck also discussed why the firm remains undeterred in bringing more crypto funds to market, and what’s next for the ETF giant. He explained that while the SEC ruling on the spot ETF wasn't surprising, the firm expects to submit more bitcoin funds for approval. History repeating? But van Eck went on to note that the rejection of spot bitcoin ETfs may be similar to the initial pushback against gold bullion ETFs. He observed that the government initially also rejected gold bullion ETFs, while they were quick to approve gold futures funds. In this respect, van Eck contended that the SEC is exhibiting a double standard over bitcoin ETFs, with the agency wanting jurisdiction over crypto-cash markets. “It did not require that meaningfully for a gold ETF or a dry bulk shipping ETF," he said. From a macro perspective, however, van Eck acknowledged that while he believes governments view digital assets as “incredibly threatening” -- citing China’s ban on crypto trading and mining earlier this year -- he is encouraged by other regulatory movements in the space. ... For more visit theblockcrypto.com/podcasts Episode 79 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Jan van Eck, CEO of VanEck. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com. This episode is brought to you by our sponsors Bakkt, Kraken and Kava Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information About Kraken Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Kava For over four years, Kava Labs has contributed to building a portfolio of decentralized products and services that allow users to gain access to all of the benefits of DeFi. Kava connects the world's largest cryptocurrencies, ecosystems, and financial applications on one of DeFi’s most trusted, scalable, and secure earning platforms. Kava lets you mint stablecoins, lend, borrow, earn and swap safely and efficiently across the world’s biggest crypto assets with a simple and intuitive user experience and the full confidence of institutional-grade security and quality. With a proven track record of delivering successful projects safely, the Kava Platform is DeFi's most trusted, scalable, and secure institutional-grade cross-chain engine.

Jan van Eck

CEO

VanEck

In this week’s episode we speak with Matthew Sigel, head of digital asset research at VanEck, an asset management firm overseeing $80 billion, which has shifted its focus heavily into crypto. They started out with investments almost exclusively in Bitcoin, but now, with Matthew on board, the firm is becoming increasingly bullish on Ethereum and DeFi. Matthew has a very methodical way of analyzing cryptocurrencies, applying the same rigorous methods used in traditional finance, and so it becomes even more compelling to hear him make the case for Ethereum’s market cap growing to $2 trillion. He also believes even after this year’s bull run, Ethereum and most DeFi protocols are trading cheaper than Web 2.0 and with better growth. Thanking our sponsors: Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools here! Enzyme provides an easy way to build, scale and monetize DeFi investment strategies Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi Aave, an open source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets The DeFi Pulse Index, by Index Coop - DPI is the easiest way to capture the upside of DeFi with the benefit of diversification. Buy DPI today on your favorite DEX.

Matthew Sigel

Head of Digital Assets Research

VanEck