We’re Still Early to The Institutional Crypto Cycle | Eric Peters, CIO Coinbase Asset Management
Eric Peters, CIO of Coinbase Asset Management joins Ryan to chart how crypto matured to today’s institutional market with deep liquidity, ETF rails, and stablecoin clarity.
They unpack why Wall Street is leaning in, why the next wave is digitally native issuance of treasuries, bonds, and equities on Ethereum, and how macro tailwinds (fiscal dominance, Fed–Treasury convergence, AI-driven productivity) intersect with crypto’s reflexivity.
Risks and realities aren’t ignored—over-financialized “treasury companies,” security lapses, and policy whiplash—plus a 12–18 month roadmap of real on-chain use cases as pensions and sovereigns start arriving.
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TIMESTAMPS
0:00 Intro
5:55 Throwback to 2020
9:29 Institutional Infra: Before & After
11:47 Institutional Adoption: Before & After
15:57 TradFi ETF Incentives
19:07 Did Crypto Become Consensus?
22:45 Balancing Conviction & Change of Opinion
28:20 The Story of Money
33:19 Institutional Understanding
37:57 Is Crypto Too Big to be Shut Down?
43:44 Operation Chokepoint Takeaways
49:18 Crypto Regulation 180
56:13 Working with Different Jurisdictions
1:04:05 The Future of Tokenization
1:10:10 Crypto ETFs Aftermath
1:18:32 How High Can Crypto Go?
1:32:23 Treasury Companies
1:38:27 Eric’s Macro Trades
1:44:18 What Could Go Wrong?
1:48:04 Coinbase Asset Management
1:53:34 What’s Next?
1:54:52 Closing
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RESOURCES
Eric Peters
https://www.linkedin.com/in/charlesericpeters/
Coinbase Asset Management
https://www.cbassetmgmt.com/
One River Asset Management
https://www.oneriveram.com/
Last Eric Peters interviews
https://www.youtube.com/watch?v=z8oocKy3IwU
https://www.youtube.com/watch?v=NMPiGjxdH0E
Vitalik’s Interview
https://www.youtube.com/watch?v=rNSnYIjoqOM
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Why Institutions Are Bullish With Eric Peters
Gm! This week Eric Peters joins the show live from DAS NY 2025 to discuss why institutions are bullish. We deep dive into the rise of fiscal dominance over the past few years, what institutions are interested in within crypto, does the four year cycle still exist, crypto's biggest opportunities in 2025 & more. Enjoy!
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Timestamps:
(00:00) Introduction
(00:27) The Rise Of Fiscal Dominance
(04:00) The Trump Playbook In 2025
(08:20) Why Institutions Are Bullish
(17:30) Are Meme Coins Bad For Crypto?
(18:51) Where Are We In The Cycle?
(19:57) Fundamentals vs Narratives
(21:39) Crypto's Biggest Opportunity
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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.
What Institutions are Actually Buying this Cycle | Eric Peters, One River & Coinbase Asset Management
In today's episode we are joined by One River and Coinbase Asset Management CEO Eric Peters to unpack how institutions are thinking about crypto this cycle. Eric breaks down why infrastructure providers like Coinbase are positioned to be the biggest winners, how tokenized equities could transform global market access, and what the institutional capital cycle means for Bitcoin, ETH, and Solana. Eric also breaks down why we're at the beginning of a complete reboot of financial architecture and how to navigate this from a portfolio perspective. Thanks for tuning in!
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Timestamps:
(00:00) Introduction
(02:50) Impact of Election
(16:27) Global Macro Outlook
(29:42) Crypto's Secular Trend
(42:31) Skale Ad
(43:11) Magic Eden Ad
(43:55) Uniswap Ad
(44:27) Mantle Ad
(45:21) Ledger Ad
(46:04) Impact of Institutional Adoption
(49:11) Bull and Bear Cases for BTC
(54:11) Eth & Sol Outlook
(01:01:50) The Cycle Trade
(01:08:11) Corporates Buying BTC
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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.
160 - The Smart Money is Here with Eric Peters
Eric Peters operates one of the largest institutional crypto hedge funds in the world. What do the institutions think of our little crypto asset class? Are they running for the hills?
------ ✨ DEBRIEF | Unpacking the episode: https://shows.banklesshq.com/p/debrief-eric-peters ------ ✨ COLLECTIBLES | Collect this episode: https://collectibles.bankless.com/mint
------ Eric Peters is the Founder, CIO of One River Asset Management–his fund has made some of the largest institutional investments in crypto ever..including one purchase of over $600 million in Bitcoin and Ethereum. When we think institutional crypto, we think Eric Peters.
His first appearance on Bankless was in October 2021…we brought him back to catch us up on the current institutional thesis for crypto.
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------ Topics Covered
0:00 Intro 9:51 Still Bullish? 16:42 Was FTX Surprising? Institutions Reaction 25:14 FTX Red Flags 33:00 3 Arrows Capital 41:40 Philosophy of Investment Decisions 47:36 What Should Regulators Do? 58:20 Was Crypto 2022 Worth It? 1:04:30 Ego 1:09:54 Institutional Exposure to Crypto 1:18:40 Reports 1:24:04 Institutional Exposure to Crypto 1:30:05 2023 Macro Outlook 1:37:22 A Decade Later 1:40:37 Closing & Disclaimers
------ Resources:
Eric Peters https://www.linkedin.com/in/ericpetersoneriver/
Eric’s 1st Appearance on Bankless https://youtu.be/NMPiGjxdH0E
One River Digital Assets Research https://www.oneriveram.com/research/digital-daily
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures
Bitcoin Is Still The Most Interesting Trade | Eric Peters
In this episode of Empire, Jason and Santi are joined by Eric Peters, the founder and CEO of One River Asset Management. Eric, a renowned macro investor, made a splash in the cryptoverse in November 2020 by making a $600M BTC purchase before sagely exiting the market with a $1B+ profit.
Eric shares his views on the current macro cycle, investment strategies, the future of DeFi and crypto's inevitability.
Highlights include:
- The state of macro and why inflation was a choice
- End of the 60-40 portfolio
- Why this market cycle is over
- The catalyst behind Eric's $600M BTC purchase
- How to "time" markets
- Why current DeFi implementations won't cut it
- Crypto's breakout moment
- Why Bitcoin is the most interesting trade
- When will the Fed reverse course
- What Eric would tell his younger self
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Referenced in the show:
One River Asset Management
https://www.oneriveram.com/
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(00:00) Intro
(01:49) The Current Macro Environment
(07:06) How Eric Navigates Market Cycles
(11:19) Deflationary Cycles & Expensive Ubers
(17:04) Inflation is a choice
(21:42) The $600M BTC purchase
(27:26) How Do You Time the Trade?
(33:20) Paraswap Ad
(34:26) How to think about asset allocation
(39:20) Why Eric's firm doesn't touch DeFi
(43:27) Why Crypto is Here to Stay
(49:55) DeFi's Zero to One Moment
(55:00) How Eric views BTC
(1:02:33) When will Bitcoin's price recover?
(1:09:08) The 80 Year Debt Cycle
(1:16:15) Eric's advice to his younger self
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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.
89 - Institutions are Bullish | Eric Peters
Eric Peters is the Founder and CEO of One River Digital Asset Management. In this episode, he joins the Bankless Podcast to bring the perspective of a traditional hedge fund manager into a crypto context. Spending his career in the markets, his insights to the macro environment are vast and inform his investing decisions, and he sees crypto as a pathway to a renaissance – but also to a dystopia.
Seeing a 'quantum' level change underway, Eric explores the bumpy road ahead with thoughtful views on generation gaps, income inequality, and the power of digital assets. Eric's approach is a pragmatic one, addressing the crypto revolution in realistic terms that makes these paradigm shifts feel simultaneously instant and drawn out.
✨ EPISODE DEBRIEF ✨ https://shows.banklesshq.com/p/exclusive-debrief-institutions-are
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------ Topics Covered:
0:00 Intro 6:00 Eric Peters of Greenwich, CT 12:45 Buying $600M of Crypto 16:25 Building a Team 23:55 A Macro History Lesson 32:19 A Quantum Change 40:20 Dystopia or Renaissance 49:16 Bumpy Road Ahead 55:12 Generational Stresses 1:03:25 Faith In Currency 1:10:52 Regulatory Wrestling Match 1:15:42 Young, Dumb, and Broke 1:24:48 DeFi Boomers 1:29:00 Money is an Illusion 1:37:49 One Grave at a Time 1:42:20 Predictions 1:46:39 Closing & Disclaimers
------ Resources:
Weekend Notes: https://www.oneriveram.com/wknd-notes
The Case for Digital Assets: https://www.oneriveram.com/s/The-Case-for-Digital-Assets-One-River.pdf
The Crypto Renaissance: https://youtu.be/karddOiv4ZA
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures