Matt Hougan is the chief investment officer of Bitwise. He believes that the recent pro-crypto position taken by the U.S. Securities and Exchange Commission will be a huge boon for the digital assets industry.
Hougan writes in a blog that the speech given by SEC chair Paul Atkins, outlining the future of traditional assets being moved onto public blockchains where DeFi (decentralized finance) will play a larger role, is “the most bullish document” on crypto he has ever seen.
Hougan says that the SEC pivoting from being a crypto antagonist into a catalyst for cryptos is not “priced in.”
According to Bitwise CIO’s, the “most obvious” opportunity is in the subsector of layer-1 that allows stablecoins or tokenization.
It doesn’t require a genius in order to realize that if assets will be moving to public blockchains you should have exposure to them.
What are they?
“The best way to invest is by buying a collection of leading assets, such as Ethereum, Solana Cardano XRP Avalanche Aptos Sui NEAR and others.”
Hougan believes the DeFi sector is a great opportunity as the regulatory cloud that has hindered the growth of DeFi applications begins to lift.
DeFi apps are still popular despite the absence of clear regulations. Uniswap’s largest app for spot trading processed $88 Billion in volume trading in June. This was its highest month to date. Aave, a DeFi-lending protocol similar to Aave, also reached a record high with $56 Billion in value. Hyperliquid and other derivatives platforms are huge.
Could these numbers increase by 10x with greater clarity? 50x? 100x? The opportunity to earn 100x is enormous as traditional markets and crypto markets combine.
Bitwise CIO believes super-apps, which offer their users a variety of financial services, will also benefit from the SEC’s 180 degree pivot.
“… It’s difficult not to remember Coinbase and Robinhood. Both firms have adopted the concept of super-apps, but from opposite ends: Coinbase began in crypto, and now is shifting toward traditional assets. Robinhood was founded in traditional assets, and has moved quickly into crypto.
Let’s take a risk here. One of these firms could be the biggest financial services firm in the world. It might even become the first company to have a value greater than $1 trillion.”
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Sources of Images include Pixabay Creative Commons & Midjourney
The post ‘It’s not priced in’ – CIO Bitwise Says Ethereum Solana Uniswap And Others Will See A Boost From Massive SEC pivot may be updated as new information becomes available.
