In this exclusive conversation, Bitwise Asset Management CIO Matt Hougan sits down with CoinGape co-founder Sunil Sharma to unpack how Wall Street is fundamentally reshaping the crypto market.
ETFs, US regulatory landscape, DAT Failure – the future of Strategy, crypto’s 4-year cycle are few important trends that Matt decodes for investors in this chat.
Hougan explains that the launch of US Bitcoin ETFs marked a turning point for institutional adoption, giving traditional investors regulated access to Bitcoin for the first time. These ETFs, he notes, are now buying more than 100% of newly mined Bitcoin supply, creating sustained demand beyond retail activity.
Addressing long-held market assumptions, Hougan argues that the traditional four-year Bitcoin cycle driven by halvings and rate movements is losing relevance. Instead, institutional inflows, improving regulatory clarity, and long-term macro trends are becoming the primary price drivers. Current market volatility, he says, reflects a transition phase, where early retail holders are taking profits while institutions gradually build positions.
Hougan also sheds light on Ethereum’s institutional appeal, highlighting growing interest in stablecoins, tokenization, and the accelerating pace of Ethereum’s protocol upgrades. These factors, he believes, position ETH as a core infrastructure asset for finance.
On concerns around MicroStrategy and systemic risk, Hougan dismisses fears of imminent collapse. He points out that crypto remains a $3 trillion market compared to nearly $275 trillion in global equities and bonds. With institutional capital pools vastly larger, Hougan remains bullish, calling the current phase the early innings of crypto’s institutional era.
He further discusses the impact of US crypto regulation, the long-term institutional outlook for Bitcoin ETFs, the rise of tokenization. Watch the exclusive conversation as Matt further explains the next growth phase of crypto.
Also Watch: Coinbase Ventures’ Jonathan King on Web3 Funding
Bitwise CIO Matt Hougan
Speaker
