- Bitwise CIO Matt Hougan praised Project Crypto as a long-awaited roadmap for the crypto industry.
- Hougan highlighted Layer 1 blockchains as essential infrastructure for tokenisation, fintech super-apps and DeFi platforms as the three key investment areas.
- Regulatory alignment and infrastructure maturity are converging to create “a generational opportunity” not yet priced into current markets.
SEC Chairman Paul Atkins’ recent speech on Project Crypto has reignited confidence in the digital asset space, according to Bitwise Asset Management’s Matt Hougan. The Bitwise CIO described the address as “the most complete vision of how crypto can reshape financial markets that I’ve read,” which could help lay out a definitive roadmap for crypto investment over the next five years.
The initiative seeks to reform U.S. securities laws to support blockchain-based markets. It proposes allowing tokenised real-world assets and creating a simplified regulatory path for crypto-native firms, aiming to modernise infrastructure, boost transparency, and strengthen US leadership in digital finance.
Hougan noted that Atkins’ remarks align with long-standing ideas held by the crypto community, especially the notion that all financial assets will eventually migrate on-chain. He identified three key areas of opportunity for investors to focus on.
Related: Bitwise CIO: Circle’s Blockbuster IPO Underscores Need for Dual Crypto Strategy
Layer-1 Blockchains
As assets transition to public blockchain networks, the platforms powering tokenisation and stablecoins like Ethereum, Solana, and Cardano could become essential infrastructure. He encouraged investors to adopt a diversified strategy by purchasing a basket of leading blockchain assets rather than trying to predict the ultimate winner.
Fintech ‘Super-Apps’
Atkins called for regulatory changes that would allow firms to offer a broad suite of services from crypto trading to staking within a single platform, without needing numerous licenses. Coinbase and Robinhood, each moving from different ends of the financial spectrum, are already evolving into such applications.
I’ll go out on a limb here: One of these companies could become the largest financial services company in the world, maybe even becoming the first financial services company worth more than $1 trillion.
DeFi Platforms
Previously constrained by ambiguous regulation, DeFi applications like Uniswap and Aave are now being acknowledged by the SEC as viable, non-intermediated systems. In June, Uniswap saw trading volumes of US$88 billion (AU$135.4 billion), while Aave reached US$56 billion (AU$86.2 billion) in value locked despite lacking mainstream institutional participation.
A Rare Opportunity in Plain Sight
The combined effect of regulatory clarity, modernised infrastructure, and decentralised technology signals a pivotal moment for digital assets. Project Crypto doesn’t just legitimise the industry – it provides a roadmap for how financial markets will evolve in the coming decade. For investors, it marks a rare alignment of vision and opportunity.
This represents more than a regulatory shift — it is a generational opportunity.
Paul Atkins, SEC Chairman Related: SEC’s Liquid Staking Guidance Sparks Internal Clash Over Clarity
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