Matt Hougan

Bitwise’s Matt Hougan and Ryan Rasmussen return with 10 big predictions for 2026. From the case for $1M BTC (and why the classic four-year cycle may be dead) to a world where ETFs soak up more than 100% of new BTC/ETH/SOL supply. We get into Bitcoin volatility vs. mega-cap tech, crypto equities vs. tech equities, and why Polymarket could smash past its 2024 election-era highs. Plus: stablecoins as an “escape valve” that emerging economies may blame for currency stress, on-chain also known as “ETFs 2.0,” and how the Clarity Act could be the starter’s gun for ETH and SOL to run. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🔵COINBASE | ETH & BTC BACKED LOANS https://bankless.cc/coinbase-borrow 🪙FRAXNET | MINT, REDEEM, & EARN https://bankless.cc/fraxnet 🦄UNISWAP | CONTINUOUS CLEARING AUCTIONS https://bankless.cc/uniswap-cca 🛞MANTLE | GLOBAL HACKATHON 2025 https://bankless.cc/mantle-hackathon 💤EIGHT SLEEP | IMPROVE YOUR SLEEP https://bankless.cc/eight-sleep 💤EIGHT SLEEP | IMPROVE YOUR SLEEP https://bankless.cc/eight-sleep ------ TIMESTAMPS 0:00 Last Year Predictions 13:12 1. Bitcoin Breaks 4-Year Cycle 16:19 2. BTC Less Volatile Than NVDA 22:09 3. ETFs Purchasing New Supply of Crypto 30:02 4. Crypto Equities Outperforming Equities 37:23 5. Prediction Markets All-Time Highs 42:50 6. Stablecons Destabilizing Currencies 48:16 7. Onchain Vaults Doubling in AUM 52:56 8. Clarity Act Triggering ETH & Sol All-Time Highs 56:40 9. Ivy League Endowments Investing in Crypto 58:49 10. 100+ Crypto ETPs Launching 1:01:14 Bitwise Announcement 1:04:08 Bonus. Bitcoin Equity Correlation Falling 1:07:29 Progress in 2025 1:10:48 Cross-Generational Wealth Transfer? 1:13:02 Closing Thoughts & Disclaimers ------ RESOURCES Matt Hougan https://x.com/Matt_Hougan Ryan Rasmussen https://x.com/RasterlyRock Bitwise https://bitwiseinvestments.com/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Ryan Rasmussen

Head of Research

Bitwise Asset Management

This week, CIO of Bitwise Matt Hougan joins the show to discuss fading the power of the four-year cycle, the accelerating wave of institutional adoption, and whether Strategy selling its Bitcoin is a real risk. Matt also weighs in on the Santi-Haseeb L1 debate, balancing token value with investment, and what he thinks drives the next phase of growth. Enjoy! — Follow Matt: https://x.com/Matt_Hougan  CIO Memo: https://bit.ly/4pK4gmC  Follow Jason: https://x.com/JasonYanowitz  Follow Santi: https://x.com/santiagoroel  Follow Empire: https://twitter.com/theempirepod  — 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 — This Empire episode is brought to you by VanEck. Learn more about the VanEck Onchain Economy ETF (NODE): http://vaneck.com/EmpireNODE An investment in the Fund involves substantial risk and is not suitable for all investors. You may lose your entire principal investment. The Fund may invest nearly all of its net assets in Digital Transformation Companies and/or Digital Asset Instruments but does not invest in digital assets or commodities directly. Digital Asset Instruments may involve risks tied to investing in digital asset exchange-traded products (“ETPs”), including the historically extreme volatility of digital asset and cryptocurrency markets and reduced regulation and investor protections, as these ETPs are not registered investment companies under the Investment Company Act of 1940 (“1940 Act”) or commodity pools under the Commodity Exchange Act (“CEA”). Investing involves substantial risk and high volatility, including possible loss of principal. Visit vaneck.com to review the prospectus, including the Fund’s investment objective, risks, and fees, before investing. © Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation. — GEODNET is the world’s largest RTK network, delivering real-time, centimeter-level precision for drones, robots, farmers, and first responders. Recognized by the U.S. Congress, this blockchain-powered network supports mission-critical applications across a wide range of industries. Discover how GEODNET is changing the world: [https://geodnet.com] — Uniswap’s Trading API offers plug-and-play access to deep onchain and off-chain liquidity, delivering enterprise-grade crypto trading without the complexity - from one of the most trusted teams in DeFi. Click to get started with seamless, scalable access to Uniswap’s powerful onchain trading infrastructure. https://bit.ly/4pt0Fd0 — Timestamps 00:00 Intro 03:28 2026 vs The Four Year Cycle 05:06 Bitcoin Covered Call Strategy 07:44 The Case Against The 4-Year Cycle 11:14 Ads (Zcash, Katana) 12:31 Will Strategy Sell Its Bitcoin? 16:36 Inside The Institutional Mind 24:24 How Advisors Think About Crypto 27:40 The Best Stories In Crypto 30:23 Ads (Zcash, Katana) 31:39 Risk-First Investing 33:01 L1 Debate: Haseeb vs Santi 36:19 Balancing Token Value & Investment 40:16 Ads (VanEck, Uniswap) 41:58 Zcash & The Privacy Narrative 44:29 The Future Of ICOs 46:55 The Token-Equity Convergence 48:19 Final Thoughts — 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.

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Are crypto ETFs set to reshape the investing landscape? Join us on The Defiant as we dive deep into the future of crypto assets, the evolving regulatory environment, and the rise of index-based investing. Matt Hougan, CIO of Bitwise, shares his expert insights on what these changes mean for investors and how crypto ETFs could revolutionize access to digital assets.  Chapters: 00:00 The Defiant Intro 00:10 Why tariffs could be bullish for Bitcoin  00:41 Intro to Matt Hougan, CIO of Bitwise 01:35 The impact of U.S. interest rates on crypto markets  04:00 Tariffs and their effects on crypto 08:24 How USD fluctuations affect global crypto trends  10:15 Investor reactions to a weaker dollar 11:58 Bitcoin as a hedge against volatility 14:58 The role of traditional investors in driving Bitcoin’s price  20:54 Regulatory insights and which assets stand to gain  22:10 Crypto ETFs 24:50 What sets Bitwise apart in the crowded ETF space  26:52 The rise (and slow start) of Ethereum ETFs 29:00 How will ETH staking play into demand? 30:21 How will an ETH staking fund be structured? 32:30 Top crypto assets to watch for the next wave of ETFs  35:25 How index funds are influencing the future of crypto investing  36:50 Crypto native investors 38:38 Index funds and the SEC 40:11 Ethereum’s coming of age and shifting goals 43:45 What can get 1000x users on Ethereum? 46:28 Ethereum vs. Solana and the next big trends  48:31 Where and how different blockchains thrive 51:30 Predictions for 2025 53:10 Closing Remarks

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

The crypto markets are at a crossroads. While macro chaos — tariff whiplash, rising yields, and inflation fears — continues to dominate headlines, bitcoin has barely budged. And some say that’s exactly the signal. In this episode, Matt Hougan of Bitwise and Matthew Sheffield of FalconX join Laura to unpack the tension between short-term volatility and long-term conviction. They explore why this cycle may look very different from previous ones, how institutional capital is navigating crypto, and whether we’re entering a new era defined by fundamentals, not just narratives. Plus: Why bitcoin might hit $200K, what Ethereum needs to reclaim momentum, and the real potential of DeFi under this new administration. Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Bitwise Human Rights Foundation Guest: Matt Hougan, CIO of Bitwise Previous appearances on Unchained: How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Matthew Sheffield, Senior Trader at FalconX Links Subscribe to our new crypto + macro newsletter! https://bitsandbips.beehiiv.com/subscribe Recent coverage of Unchained on the economy and tariffs:  Why CoinFund Believes There’s Still a Strong Bull Case for Bitcoin and Crypto Arthur Hayes on Why Tariffs Will Be Good for Bitcoin and Crypto Bits + Bips: Why a U.S. Recession May Be Coming — And Still Isn’t Priced In Bits + Bips: Trump’s Tariffs Are Causing Mayhem, But Will They Revive U.S. Manufacturing? Trump Tariffs Sink Crypto, BlackRock Pumps Bitcoin’s Bags Why Trump-Induced Stagflation Could Finally Make Bitcoin a Safe Haven In Market Crash, What Should You Buy? Crypto VCs Are Making These Bets Bitcoin Tops $83,000 as Tariff Pause Sends Markets Soaring Crypto Traders See Another $1B Liquidated Amid Tariff Turbulence  Recession incoming? Ray Dalio’s remarks on Meet the Press Timestamps: 📍 0:00 Introduction 🧠 3:48 “An extraordinary moment to live in,” says Matt ⚖️ 5:21 The growing disconnect between long-term belief and short-term pain 🔍 7:40 Why fundamentals are finally taking center stage in investor analysis 🐻 12:34 Solana’s memecoin reputation… can it shake the stigma? 🏛️ 14:29 How ETFs permanently changed crypto market dynamics 📉 15:27 What the 10-year treasury is telling us about bitcoin’s next move 📊 20:28 What crypto options are revealing about investor sentiment 📈 22:33 Whether Ray Dalio is right about where the U.S. economy is headed 💵 28:16 What a weaker dollar means for bitcoin’s value 🚀 31:17 Is $200K bitcoin coming? And who will drive it there? 🌊 38:55 What has to happen for alt season to actually return 🔄 44:40 What light ETF outflows since “Liberation Day” mean 📈 51:10 Why crypto IPO demand is heating up ⚖️ 54:37 DeFi’s big regulatory moment and why the market might be missing it Learn more about your ad choices. Visit megaphone.fm/adchoices

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Matthew Sheffield

FalconX

2024 was a breakout year for crypto, with Bitcoin, Ethereum, and Solana outperforming traditional assets and spot Bitcoin ETFs attracting $31.7 billion in record inflows. Coinbase surged toward S&P 500 inclusion, stablecoins doubled, and tokenized real-world assets began their rise. Nations embraced Bitcoin as a reserve asset, and AI-driven memecoins fueled fresh mania. Bitwise calls 2024 a prelude to 2025—a year poised to redefine crypto’s place in global finance. Bitwise’s Chief Investment Officer, Matt Hougan and Head of Research, Ryan Rasmussen join us to share Bitwise’s top 10 2025 Predictions. Trust us anon, you don’t want to miss this.   ------ 📣AMBIRE | SIGN UP! https://www.ambire.com/legends  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠  🦄UNISWAP | BUG BOUNTY PROGRAM https://bankless.cc/Uniswap-Bug-Bounty  🐧CARTESI | LINUX-POWERED ROLLUPS https://bankless.cc/CartesiSimple  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle     ⁠  📈iYield: YOUR FINANCIAL PICTURE, SIMPLIFIED https://bankless.cc/iYield  🔒SAFE | INTRODUCING SAFENET https://bankless.cc/SAFE ------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/110?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E  ------ TIMESTAMPS 0:00 Intro 5:19 Summarizing 2024 8:58 Bitcoin, Ethereum, & Solana 2025 Price Targets 21:40 2025 Bitcoin ETF Flows  27:20 Coinbase Surpasses Charles Schwab 32:13 Year of the Crypto IPO  38:01 AI Agent Memecoin Mania 47:39 Countries Holding Bitcoin  53:14 Coinbase S&P 500 & MicroStrategy Nasdaq-100  56:54 Crypto 401(k)s  1:02:48 Stablecoin Assets Double 1:05:26 RWAs Surpasses $50B  1:09:12 Bonus Prediction: 2029 Bitcoin Price  1:12:32 Closing & Disclaimers  ------ RESOURCES Bitwise 2025 Predictions  https://bitwiseinvestments.com/crypto-market-insights/the-year-ahead-10-crypto-predictions-for-2025 Matt Hougan https://x.com/Matt_Hougan  Ryan Rasmussen https://x.com/RasterlyRock   ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Ryan Rasmussen

Head of Research

Bitwise Asset Management

Matt Hogan of Bitwise breaks down why crypto ETFs could be the catalyst for new all-time highs in 2024. He dissects institutional adoption trends, the potential impact of the U.S. election on crypto regulations, and strategies for positioning a portfolio this cycle. Discover why Bitcoin might hit $100K by the end of 2024, Ethereum could reach new heights, and how the crypto landscape is transforming with Wall Street's embrace. You don't want to miss this one! - - 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 Matt: https://twitter.com/Matt_Hougan 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/ - - Anoma is the universal intent machine, introducing a new era of applications where you define the outcomes you want. Anoma’s intent-centric architecture provides a universal operating system for building intent-centric apps compatible with any blockchain. Anoma vastly improves blockchain UX, enables novel applications, and promotes a more human-centric future for decentralized technology. Follow Anoma at x.com/anoma and signup for the newsletter at anoma.net - - 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/ - - re.al is the permissionless L2 for tokenized RWAs built on Arbitrum Orbit and the first L2 to return chain and protocol fees back to users, in reETH, ensuring they benefit from ecosystem growth. re.al has just launched a fully-transparent rewards (points) program returning 10% of $RWA supply to early users. Not investment advice or product solicitation and not aimed at US persons. https://re.al/rewards/airdrop/O4UNU - - Cronos zkEVM has launched its Pioneer Program,offering early users loyalty points for engaging with Cronos zkEVM & its dapps. Join the first quest by depositing CRO in the Cronos zkEVM bridge to receive zkCRO & loyalty points at mainnet launch, as well as a chance to win a part of a $30,000 zkCRO giveaway by depositing in the bridge. Visit zkevm.cronos.org/bridge for more info — Timestamps: (02:060 ETH ETF Expectations (06:24) ETF Demand & Interests (14:32) Diversified Crypto Portfolio (20:24) When Institutions Buy BTC? (25:31) What's Next for ETFs? (29:04) Anoma ad (30:05) Re.al Ad (31:05) Cronos Ad (32:03) Ava Labs Ad (33:02) Election Impact on Crypto (37:18) The Crypto Native Portfolio (39:08) Ethereum's NASDAQ Trojan Horse (48:18) Why aren't Prices at ATH 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.

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

The ETH ETFs have officially launched, but wen $ETH moon?  We saw $1.1B in volume and $100M in inflows yesterday. Is that good? When will this factor into price? Matt Hougan, CIO of Bitwise joins Ryan and David midway through the show to go over the above and also how the ETH ETF launch went, predictions going forward, and much more.  ------ 🍵MATCHA | NEW PRICING ENGINE https://go.0x.org/matcha-v2-pod   ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠  🦄UNISWAP | BROWSER EXTENSION https://bankless.cc/uniswap  ⚡️ FUEL | EARN FUEL POINTS https://bankless.cc/fuel  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    ⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum  🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku  ------ TIMESTAMPS & RESOURCES 0:00 Intro 2:35 ETH ETF Launch https://x.com/EricBalchunas/status/1815489137484722333  https://x.com/JSeyff/status/1815422061365305494  https://x.com/NateGeraci/status/1815487451726499864  https://x.com/Ashcryptoreal/status/1815677145810649151  https://x.com/JSeyff/status/1815737082129650047  https://x.com/RadarHits/status/1815674577726406748   https://x.com/JSeyff/status/1815737643948286104  https://x.com/BitwiseInvest/status/1815486131376370002  https://x.com/BitwiseInvest/status/1815716188447482341  https://x.com/QuintenFrancois/status/1815624631115460662  https://x.com/BitwiseInvest/status/1815486261337182504  https://x.com/VitalikButerin/status/1815697566614655158  6:44 Matt Hougan Interview https://x.com/JSeyff/status/1815958023317205232  https://x.com/NateGeraci/status/1815885624467210263  https://x.com/JSeyff/status/1815958023317205232  33:02 Grayscale & Grayscale Minitrust: Wen Moon?  https://x.com/JSeyff/status/1814347183522754773  https://x.com/Grayscale/status/1815688403381531021  https://x.com/NateGeraci/status/1815556927918600209  38:40 Hildobby Dune Board WIP https://dune.com/hildobby/eth-etfs  39:31 Bitcoin ETF Flows https://x.com/News_Of_Alpha/status/1815532026486776288  https://x.com/TrustlessState/status/1815713932453028059  41:16 Bullish Setup Going into the Rollup tomorrow https://x.com/TrustlessState/status/1815390176132186202  https://x.com/DeItaone/status/1815813380256719213  https://x.com/DavidFBailey/status/1815848521205178404  44:00 Closing & Disclaimers ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Is the Ethereum ETF Bullish for ETH? Matt Hougan and Alex Thorn put together their own analysis of inflows for the ETH ETF. Remarkably, their numbers came in somewhere close to the same place. We discussed how much demand there will be for the ETH ETF, whether or not it will overperform or underperform expectations and the overall state of the Crypto Market today. ------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/24?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E  ------ TIMESTAMPS 0:00 Intro 2:18 When ETH ETF? 7:16 Data Gathering Process 13:59 The BTC ETF Datapoint 24:17 Estimating ETH ETF Inflows 42:19 Price Impact 52:36 The ETH ETF Bear Case 1:03:14 Solana ETF? 1:05:44 The State of the Market 1:13:53 Closing & Disclaimers ------ RESOURCES Matt Hougan https://x.com/matt_hougan   Alex Thorn https://x.com/intangiblecoins   Bitwise https://bitwiseinvestments.com/   Galaxy Digital https://www.galaxy.com/   ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Alex Thorn

Head of Research

Galaxy DigitalGalaxy

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/5  ------ Matt Hougan is the CIO at Bitwise, and has been one of the best people to talk to when it comes to understanding the ETF process, and the impact of ETFs on the crypto markets.  Today we dive into the specifics on what exactly the ETF approval means for ETH. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24  https://bankless.cc/spotify-premium  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠  🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku    ⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum   🌐 CARTESI | LINUX-POWERED ROLLUPS https://bankless.cc/CartesiGovernance  ------ TIMESTAMPS 00:00 Intro 05:46 What Exactly Happened? 08:45 Was This Really Political? 12:11 Who's Responsible For This 16:46 Next Steps For ETF 20:36 Matt's ETF Story 22:44 ETF Price Impact 27:38 ETF Inflow Predictions 34:50 Explaining The ETH Narrative 38:23 Matt's 2 Minute Pitch 45:12 How Bitwise's Job Changes 49:01 ETH Charts 54:31 Legislation ------ RESOURCES Matt on X: https://x.com/Matt_Hougan  ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Just when everyone thought that spot Ether ETFs were going to be denied on Thursday, news broke Monday that they are now likely to be approved, with Bloomberg analysts tripling their odds to a 75% chance of approval.  Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, and Matt Hougan, CIO at Bitwise Asset Management, say this reversal definitely has to do with politics, citing the fight of Staff Accounting Bulletin 121, a rule that was unfriendly to financial institutions wanting to engage with crypto.  Plus, they delve into the reasons why Michael Sonnenshein stepped down as CEO of Grayscale after 10 years (hint: it has to do with GBTC), what the 13F filings revealed about who’s been buying the spot bitcoin ETFs since the beginning of the year, and what Vanguard’s incoming CEO, Salim Ramji, who was instrumental to getting BlackRock to launch its Bitcoin ETF, could mean for crypto’s future at the asset management firm. Show highlights: Why Eric believes the ether ETFs will be approved Why Matt thinks the Bitcoin ETFs set off a "complete sea change in Washington around crypto" Whether the spot Ether ETFs will be approved with or without staking Who the authorized participants and other behind-the-scenes players in the ether ETFs will be When the ETH ETFs could start trading and why Eric believes they won't be as successful as Bitcoin ETFs What the 13F filings revealed about the spot Bitcoin ETFs buyers and why their identities are "stunning" Why Michael Sonnenshein stepped down as CEO of Grayscale Grayscale’s new mini ETF, BTC Whether Vanguard's new CEO appointment could mean a change in attitude by the asset management firm towards crypto What a buffered ETF is and why they could be significant Matt's prediction for the BTC price Their outlook on the future of ETFs and developments in the space Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot VaultCraft Guests: Matt Hougan, Chief Investment Officer at Bitwise Asset Management Previous appearances on Unchained:  How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence Previous appearances on Unchained: How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Will a Spot Bitcoin ETF Finally Get Approved? Links Ether ETFs Unchained: Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security CoinDesk: Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources The Block: Fidelity files amended S-1 registration statement, removing staking rewards from prospective Ethereum ETF SAB 121 Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance  Unchained: Senate Votes to Kill SAB 121 Custody Bill: How Crypto Became So Political 13F Filings Unchained: Large Institutions Betting Big on Bitcoin ETFs Revealed in SEC Filings Leadership changes CoinDesk: Grayscale CEO Michael Sonnenshein Steps Down, to Be Replaced by TradFi Veteran WSJ: Meet Salim Ramji, Who Is Going to Oversee the Retirement Assets of Tens of Millions of Americans Learn more about your ad choices. Visit megaphone.fm/adchoices

Eric Balchunas

Senior ETF Analyst

BloombergBloomberg Intelligence

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

The Bitcoin ETF was a huge win for Crypto. What’s next? Will an Ethereum ETF be approved? We brought Matt Hougan & Ryan Rasmussen of Bitwise to explore exactly that.  We go through what made the BTC ETF so successful, what we need to replicate the process for Ethereum and what comes after the ETH ETF. ------ 📣 PERMISSIONLESS III | BUY TICKETS NOW  Bankless Citizens get 30% off: https://www.bankless.com/tools/perks  Use BANKLESS10 for 10% off: https://bankless.cc/PermissionlessIII  ------ 🎧 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24  https://bankless.cc/spotify-premium  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠  🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo    🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku    🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC  🦄 UNISWAP | SWAP SMARTER https://bankless.cc/uniswap  ------ TIMESTAMPS 0:00 Intro 6:50 Bitcoin ETFs So Far 10:40 BTC ETF 2nd Acceleration 22:56 Crypto Default Allocation 26:31 Who’s Buying the BTC ETF? 28:59 Bitcoin vs Gold 36:46 When ETH ETF? 46:39 Forces at Play 53:25 ETH ETF Derivatives 58:38 ETH ETF Price Impact 1:02:10 ETH Narratives 1:08:31 What’s Next 1:12:02 Closing Thoughts ------ RESOURCES Matt Hougan https://twitter.com/Matt_Hougan  Ryan Rasmussen https://twitter.com/RasterlyRock   Bitwise https://bitwiseinvestments.com/   ------ 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

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Ryan Rasmussen

Head of Research

Bitwise Asset Management

In today's episode Jason is joined by ETF celebrities Eric Balchunas, a senior ETF analyst at Bloomberg, and Matt Hougan, Chief Investment Officer for Bitwise Asset Management. They start off by discussing the criticisms around underwhelming trading volumes and put the declines in GBTC into context. Discussion then leads to an inside scoop on how authorized participants source liquidity for the ETF and the real costs involved in running these funds. They also dive into how advisors are rethinking portfolio construction given crypto’s changing risk profile and the potential impacts on Bitcoin price. To close out they discuss the potential timing of an Ethereum ETF approval. Enjoy! - - Wormhole is a decentralized interoperability platform powering multi-chain applications and bridges. It provides developers with access to liquidity and users on over 30 leading blockchain networks, enabling use cases in DeFi, data queries, and governance. The platform is trusted by teams like Uniswap and Circle and, to date, the platform has facilitated the transfer of over 35 billion dollars through over 850 million cross-chain messages. Claim your unique Wormhole NFT at https://wormhole.com/empire1/ - - Send your crypto to your PayPal account, swap it for PYUSD, and use it to checkout at millions of stores. Pay how you want by getting started at: https://blckwrks.co/PYUSD - - Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. Use the link below to learn more, and use EMPIRE10 to get 10% off your ticket! Sign up now because the price goes up every month. See you there! Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home - - Follow Matt: https://twitter.com/Matt_Hougan Follow Eric: https://twitter.com/EricBalchunas 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/ - - Timestamps: (01:46) The ETF Guys & Free Milkshakes (04:05) BTC ETF Underwhelming? (12:13) The ETF Launch Process (18:49) Costs of an ETF Service (22:10) What does Buying an ETF Mean? (30:31) Wormhole Ad (31:57) Paypal Ad (32:55) Impact of ETF Flows on Bitcoin Price (36:56) Role of Bitcoin in Portfolios (47:15) Eth ETF Predictions - - 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.

Eric Balchunas

Senior ETF Analyst

BloombergBloomberg Intelligence

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

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

Matt Hougan is the CIO of Bitwise, which is a crypto index fund manager and one of the issuers of Bitcoin ETFs. Hougan is a renowned figure in the financial sector, known for his expertise in cryptocurrency and exchange-traded funds (ETFs). In our conversation we get into Matt's initial reaction to the BTC ETF launch, the expected inflows for 2024, and the often underestimated impacts of these developments. We also discuss unique Vanguard's stance, the evolution of Bitcoin ETFs, why Bitwise maintains the lowest fees, Matt Hougan's background, possibility of Ethereum ETFs, and the growing understanding of Ethereum in traditional finance. Finally, we touch upon the centralization risks of Bitcoin, the future of Bitcoin ETFs, and Bitcoin price forecast. 0:00 Intro 0:46 Initial thoughts on BTC ETF launch 2:17 Inflows for 2024 4:37 Underestimated impact 8:11 Vanguard is goofy 9:40 Self sovereignty 12:30 History of Bitcoin ETFs 16:53 Why Bitwise has the lowest fees 20:20 Matt Hougan's background 23:10 ETF hate 26:45 Crypto ETFs 29:08 Ethereum ETF 31:07 TradFi understand Ethereum better than Bitcoin 36:30 Normalizing Bitcoin 42:00 Centralization risk of Bitcoin 45:47 What's next for Bitcoin ETFs 47:20 We're in a bull market 48:40 Bitcoin price forecast ✨ Check out our new website ✨ https://thedefiant.io/ 🚀 Sign up to our newsletter 🚀 https://thedefiant.io/go-premium#pricing?utm_source=YT&utm_medium=social&utm_campaign=signup 🤑 Find DeFi investment opportunities & educational primers here https://thedefiant.io/promo?utm_source=YT&utm_medium=social&utm_campaign=alpha ✊ Follow The Defiant Twitter: https://twitter.com/defiantnews Discord: https://discord.com/invite/3SdRdEs5ag Instagram: https://www.instagram.com/thedefiant.io/ Telegram: https://t.me/DefiantNews 📬 Contact our Newsroom editorial@thedefiant.io 🤝 Sponsorships & Partnerships sponsors@thedefiant.io

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

James Seyffart, market analyst at Bloomberg Intelligence, and Matt Hougan, chief investment officer at Bitwise Asset Management, feel quite certain a spot Bitcoin ETF will launch in the next few months.  First, the SEC decided not to appeal a court’s rejection of Grayscale’s application to convert its bitcoin trust to a spot ETF. Second, there’s been a change in the way the SEC has been treating the many other spot Bitcoin ETF applications—requesting miniscule tweaks in disclosure language. And even though other legal hiccups are occurring—the NY Attorney General’s lawsuit against Grayscale parent company, DCG, the SEC’s potentially renewed vigor in the Ripple case, and Cointelegraph’s incorrect tweet about a bitcoin ETF—the SEC needs a PR win right now. According to them, this means good things not just for spot Bitcoin ETFs but also, shortly thereafter, Ethereum ETFs.  Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why the SEC did not appeal a decision in the Grayscale case whether the NYAG lawsuit against DGC, the parent company of Grayscale, will affect the prospects for GBTC being converted into an ETF how likely it is that GBTC will be converted into an ETF and what needs to happen for that to occur why the SEC probably wants Grayscale to "completely refile," according to James why the recent changes in the ETF applications are "relatively modest," according to Matt whether the incorrect Cointelegraph tweet about a spot bitcoin ETF will be used by the SEC to bolster its market manipulation argument an overview of the deadlines of the different applications what happened at the launch of Ethereum futures ETFs and how it was different from the launch of Bitcoin futures ETFs whether the approval of a spot Bitcoin ETF will pave the way for a spot ether ETF what the impact is of all the negative PR for the SEC and Chair Gary Gensler after losing many cases what the differences between the various ETFs are and how they will compete in the market Lightning round questions: volumes after launch, inflows in the first year, projections for BTC price Thank you to our sponsors! Crypto.com LayerZero Popcorn Network Guests: James Seyffart, Research analyst at Bloomberg Intelligence Previous appearance on Unchained: Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF Matthew Hougan, CIO of Bitwise Previous appearances on Unchained:  The 2 Types of Investors Driving Interest in Crypto Bitwise’s Latest Plans to Get a Bitcoin ETF Approved Links ETFs: Previous coverage of Unchained on ETFs: Does Grayscale’s Win Against the SEC Mean a Spot Bitcoin ETF Will Be Approved? Grayscale v. SEC: Who Won This Week’s Hearing? Why Grayscale Is Suing the SEC Over Its Denial of a Bitcoin ETF $5 Billion in AUM: Why Growth at Grayscale Exploded in the Last Quarter Bitwise’s Latest Plans to Get a Bitcoin ETF Approved DCG’s Dilemma: Should It Sell Its GBTC Holdings to Repay Gemini? Unchained:  Bitcoin Surges to $30K After False Spot ETF Approval Tweet Ethereum Futures ETFs See ‘Average’ First Day Trading Volumes Cointelegraph: Clarification on sharing false spot Bitcoin ETF news Redeem GBTC 🌽 Campaign Ripple: SEC Drops Charges Against Ripple CEO and Chairman - Unchained Crypto Market manipulation CNET: 23-year-old arrested in Emulex hoax SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets NYAG lawsuit: NY Attorney General Sues Crypto Firms Gemini, Genesis, and DCG for Over $1 Billion Fraud Learn more about your ad choices. Visit megaphone.fm/adchoices

James Seyffart

ETF Analyst

Bloomberg Intelligence

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

In today's episode of Empire Jason and Santi are joined by Bitwise CEO Hunter Horsley and CIO Matt Hougan to dive into the world of ETFs. They discuss the early skepticism and misconceptions around ETFs, why a Bitcoin ETF approval could be transformative for crypto adoption and maturity, the layers of security and regulation with ETFs, and the potential timeline and sequence for crypto ETF products. They close out by exploring how an ETF could boost crypto's credibility and accessibility for traditional investors and revisiting the bull case for Coinbase. - - Follow Hunter: https://twitter.com/HHorsley Follow Matt: https://twitter.com/Matt_Hougan 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) False ETF News (02:30) What is an ETF? (09:03) Market Manipulation in Crypto (14:52) Investment Reality in Crypto (21:47) Who Wins if ETFs are Approved? (29:52) Regulatory Concerns for ETFs (35:15) Toku Ad (36:30) Voting and Delegate Structure of ETFs (40:26) Safety and Reporting of Crypto ETFs (46:43) Timeline and Sequence of ETF Types for Crypto (53:52) Can Crypto Change ETFs? (56:35) Coinbase Thesis -- Resources Bitwise ETFs https://blockworks.co/news/0xresearch-bitwise-spot-bitcoin-etf - - 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.

Hunter Horsley

Cofounder and CEO

Bitwise Asset Management

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

In this episode of Empire Jason is joined by Matt Hougan the Chief Investment Officer at Bitwise Asset Management. Jason and Matt discuss how an ETF would benefit financial advisors, DeFi innovation, future outlook for the space and incoming regulation. ––– LUKKA Lukka Prime is crypto asset pricing data aligned to accounting standards like GAAP and IFRS. Lukka Prime Pricing Data is the pricing source used by S&P Dow Jones Indices’ for their new cryptocurrency indices. Lukka Prime is the world’s first fair market value pricing source for crypto assets and the best option for all post-trade reporting needs. Visit lukka.tech/empire to learn more. ––– EXODUS Download the app today at http://exodus.com/empire and iOS users can buy up to $500 in Bitcoin for just $1 for a limited time. ––– Get unparalleled access to the greatest minds in macro at Blockworks’ three day, executive summit in Bretton Woods. August 11 - 13. Apply to attend today! https://blockworks.co/events/brettonwoods/ ––– Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like Empire, visit http://blockworks.co/podcasts. Follow me on Twitter @JasonYanowitz and let me know what you thought of the show!

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Matt Hougan, CIO of Bitwise, joins Bankless for this week's State of the Nation! Founded in 2017, Bitwise Asset Management pioneered the first cryptocurrency index fund and provides rules-based exposure to the cryptoasset space. Learn about Bitwise's newest product, their DeFi Crypto Index Fund. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS: ⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave  🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini  💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith  📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta​  ------ SotN #36: Bitwise DeFi Crypto Index | CIO Matt Hougan Bitwise is connecting DeFi assets to the world of ‘big money.’ Matt Hougan is CIO (Chief Investment Officer) of Bitwise, and before moving into the crypto space, he pioneered the ETF investment vehicles in the world of traditional finance. Matt, with his dog by his side, posits that there are three ‘buckets’ of wealth in America where capital is pooled. The first is ‘Self-Directed Retail Investors,’ who has bootstrapped crypto from the ground up. The second is ‘Institutional Investors,’ including Venture Capital Firms, Endowments, Foundations, and other large funds. The third – and most neglected – is capital under the ‘Financial Advisor’ umbrella. This is where the 1%-er money is, and this bucket is just now gaining access to the crypto space. The Financial Advisor bucket holds $30-$40 Trillion in assets, and the minds in this space are changing as crypto is increasingly legitimized through improving infrastructure and the strong recovery from the 2017 cycle. Building efficient vehicles to bridge this wealth into crypto is critical for large-scale adoption. This is where Bitwise comes in. Bitwise manages around $1 Billion in assets and created the first Crypto Index Fund, offering a variety of products to retail investors, accredited investors, and financial advisors. Most recently, Bitwise launched its DeFi Crypto Index Fund, exposing financial advisors to the world of DeFi. Analogues to Legacy Finance like Price-to-Earnings Ratios and Cash Flows make DeFi compelling and understandable, but DeFi is showing itself to be “cheaper, more efficient, more open, more transparent, [and] more verifiable.” ------ RELEVANT LINKS: Matt on Twitter: https://twitter.com/Matt_Hougan?s=20  Bitwise: https://www.bitwiseinvestments.com/  Matt's CFA Report on Cryptoassets: https://www.cfainstitute.org/-/media/documents/article/rf-brief/rfbr-cryptoassets.ashx  Makerburn https://makerburn.com/#/  ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021  ------ CATCH UP ON BANKLESS: 🗞️ Weekly Rollup (2/26): https://shows.banklesshq.com/p/-rollup-big-dip-nft-culture-coinbase  🧢 Weekly Action Recap (2/28): https://newsletter.banklesshq.com/p/weekly-action-recap-f41  📈 Market Monday (3/1): https://newsletter.banklesshq.com/  🎙️ Podcast with Mark Cuban (3/1): https://shows.banklesshq.com/p/-why-defi-is-the-future-mark-cuban  🐦 Follow Bankless on Twitter: https://twitter.com/BanklessHQ  ----- 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

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise

Hunter Horsley, cofounder and CEO of Bitwise Asset Management, and Matt Hougan, global head of research at Bitwise, describe their vision for Bitwise, its current funds and indices, as well as how it handles things like forks and airdrops. Then they give their reaction to and interpretation of the SEC disapproval of their Bitcoin ETF proposal, as well as what their focus will be now to try to get a Bitcoin ETF approved. We also discuss their general thesis around how the crypto space will develop, whether or not indices and funds around the top 100 assets will ever make sense, their ideas on how to value these networks and whether or not the company would ever try to compete in the DeFi space. Plus, don't miss our conversation on Bitcoin IRAs.  Thank you to our sponsors!  Crypto.com: http://crypto.com/ Kraken: https://kraken.com CipherTrace: https://ciphertrace.com/unchained Episode links:  Bitwise: https://www.bitwiseinvestments.com/ Hunter Horsley: https://twitter.com/HHorsley Matt Hougan: https://twitter.com/Matt_Hougan Unchained interview with Spencer Bogart: https://unchainedpodcast.com/spencer-bogart-on-the-20-trillion-in-store-of-value-assets/ Bitwise 10 Private Fund fact sheet: https://static.bitwiseinvestments.com/FactSheet/bitwise10/Bitwise-10-Private-Index-Fund-Investor-Class-Fact-Sheet.pdf  Bitwise 10 Offshore Index Fund: https://static.bitwiseinvestments.com/FactSheet/bitwise10-offshore/Bitwise-10-Index-Offshore-Fund-Investor-Fact-Sheet.pdf Grayscale Bitcoin Investment Trust: https://grayscale.co/bitcoin-trust/ Bitwise Ethereum Fund: https://static.bitwiseinvestments.com/FactSheet/ethereumFund/Bitwise-Ethereum-Fund-Investor-Class-Fact-Sheet.pdf  SEC order disapproving the Bitwise Bitcoin ETF proposal: https://www.sec.gov/rules/sro/nysearca/2019/34-87267.pdf Matt on CNBC discussing the Bitcoin ETF proposal: https://twitter.com/CNBC/status/1181309471349526530?s=20 Bitstamp/BitMEX trading manipulation: https://twitter.com/DoveyWan/status/1129246233917382656 Jake Chervinsky’s tweet about how the SEC is unlikely to approve a Bitcoin ETF under Chair Jay Clayton: https://twitter.com/jchervinsky/status/1182149164177608704?s=20  Unchained interview with Jake: https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/ SEC commissioner Hester Peirce’s dissent to the disapproval of the Winklevoss Bitcoin ETF: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 Van Eck’s withdrawal of the Bitcoin ETF proposal: https://www.coindesk.com/vaneck-solidx-withdraw-bitcoin-etf-proposal-from-sec-review Chris Burniske on how to value these networks: https://unchainedpodcast.com/how-to-value-a-crypto-asset/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Hunter Horsley

Cofounder and CEO

Bitwise Asset Management

Matt Hougan

Chief Investment Officer

Bitwise Asset ManagementBitwise