Latest / The Paul Barron Crypto Show / Stablecoin Bill Leads XRP ETF Approval🚀XRP Las Vegas🚨Matt Hougan Bitwise INTERVIEW

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Stablecoin Bill Leads XRP ETF Approval🚀XRP Las Vegas🚨Matt Hougan Bitwise INTERVIEW · The Paul Barron Crypto Show

• 0:05
  Speaker 1: All right, we are here at XRP Las Vegas. If
• 0:08
  Speaker 1: joining me today of course is Meadow coming in for
• 0:10
  Speaker 1: bit wise.
• 0:10
  Speaker 2: How are you? I'm great, Thanks for having me.
• 0:12
  Speaker 1: Yeah, so, Matt, first time are in person.
• 0:15
  Speaker 2: Right, that's good. Let's get into a little bit.
• 0:17
  Speaker 1: About what's happening with bitwise right now. Yeah.
• 0:19
  Speaker 2: So the market is unlocking in two major ways for bitwise. Remember,
• 0:23
  Speaker 2: bitwise serves a lot of institutional and professional investors, So
• 0:27
  Speaker 2: the dual unlocks are those platforms are getting more interested
• 0:31
  Speaker 2: and more open in letting their wealth advisors and wealthy
• 0:34
  Speaker 2: investors access crypto at the same time that the SEC
• 0:38
  Speaker 2: is broadening the window of what it will allow in ETF.
• 0:41
  Speaker 2: So it's a very exciting time for bit wise because
• 0:44
  Speaker 2: that means we can build the products that people want
• 0:47
  Speaker 2: and help them access it. So we do these surveys
• 0:49
  Speaker 2: of institutions every year and we ask what's preventing you
• 0:52
  Speaker 2: from allocating to crypto. It's not the volatility, it's not
• 0:56
  Speaker 2: environmental concerns, it's not any of the fun questions. It's
• 0:59
  Speaker 2: always been regulatory uncertainty, because the last thing these people
• 1:03
  Speaker 2: want is a regulator knocking on their door and asking
• 1:07
  Speaker 2: them questions about why you did this or why you
• 1:09
  Speaker 2: did that. They need the regulatory green life. So the
• 1:12
  Speaker 2: approval of ETF specifically provided a lot of that regulatory clarity,
• 1:17
  Speaker 2: and now that the SEC is hopefully allowing more and
• 1:20
  Speaker 2: more ETFs, it's just opening it up significantly every day
• 1:25
  Speaker 2: with the.
• 1:26
  Speaker 1: Genius Act going through. Most likely will happen maybe this week.
• 1:30
  Speaker 1: How quickly will we start to see US dollars moving
• 1:34
  Speaker 1: in and on Chaine so it can't start deploying.
• 1:37
  Speaker 2: Oh, I think it's going to be very fast. I
• 1:39
  Speaker 2: mean the US Treasury, which is not known for outlandish predictions,
• 1:42
  Speaker 2: thanks stable coin, AUM will go from two hundred and
• 1:45
  Speaker 2: fifty billion to day to two plus trillion dollars within
• 1:49
  Speaker 2: the next few years. I think they may be understated,
• 1:51
  Speaker 2: but they're predicting a ten x and that means critically
• 1:55
  Speaker 2: that people are going to be using crypto in their
• 1:58
  Speaker 2: day to day lives in the next couple of years.
• 2:01
  Speaker 2: There's always been this criticism of crypto, when are we
• 2:03
  Speaker 2: going to see the real world impact. The answer to
• 2:05
  Speaker 2: that is, in the next few months, we're gonna start
• 2:07
  Speaker 2: seeing stable coins penetrate regular daily use. You're going to
• 2:11
  Speaker 2: start feeling it in the next couple of months. I
• 2:14
  Speaker 2: heard Vlad Tenev, CEO of Robinhood, on the other day
• 2:17
  Speaker 2: he's using stable coins to do collateral settlement on the weekends.
• 2:22
  Speaker 1: Right.
• 2:22
  Speaker 2: I actually think there's going to be a big B
• 2:24
  Speaker 2: to B move, a big international move. Look, I think
• 2:26
  Speaker 2: it's going to get to the consumer. I think in
• 2:28
  Speaker 2: a few years we may be buying goods on Amazon
• 2:31
  Speaker 2: with stable coins and getting a one or two percent discount.
• 2:34
  Speaker 2: But I actually think businesses are going to be the
• 2:36
  Speaker 2: first ones to pick them up. If we're talking about
• 2:39
  Speaker 2: paying an extra two percent when we go to buy
• 2:41
  Speaker 2: a coffee, that's like, you know, what is it twenty
• 2:43
  Speaker 2: thirty cents sort of whatever. If you're moving trillions of dollars,
• 2:46
  Speaker 2: you better believe that two percent matters. So I think
• 2:49
  Speaker 2: it's gonna be B to B first, B two C
• 2:51
  Speaker 2: sooner than you think. But B two C will still
• 2:53
  Speaker 2: be you know, a year or two away in the US,
• 2:55
  Speaker 2: But you're gonna see the B to B impacts I
• 2:57
  Speaker 2: think pretty immediately.
• 2:59
  Speaker 1: Obviously, ETFs have kind of been the deployment mechanism for
• 3:02
  Speaker 1: most crypto friendly investors. They're saying, Okay, I want to
• 3:05
  Speaker 1: access I'm going to go to an ETF right now. Yep.
• 3:08
  Speaker 1: Next up is going to be these next layer of
• 3:10
  Speaker 1: ETFs coming through XRP, Solana, et cetera. How close do
• 3:14
  Speaker 1: you think we are on seeing those really?
• 3:16
  Speaker 2: You know, I can't speak on any specific filing because
• 3:18
  Speaker 2: of course we have filings live at the SEC. But
• 3:21
  Speaker 2: I think we're making progress. You have all the indications
• 3:24
  Speaker 2: that we're on track. What do I mean by that?
• 3:26
  Speaker 2: You know, we're starting to see regulated futures trade, We're
• 3:29
  Speaker 2: starting to see the SEC consider more innovative things. We're
• 3:33
  Speaker 2: getting to the point in the timeline where the SEC
• 3:35
  Speaker 2: has to say yes or no. So I'm hopeful we'll
• 3:38
  Speaker 2: see major unlocks. And I will say this when I
• 3:41
  Speaker 2: talk to institutional investors, they're excited to look beyond bitcoins.
• 3:45
  Speaker 2: Many of them have exposure to bitcoin, and they're happy
• 3:48
  Speaker 2: about that. It's a great hedge against fiat debasement. It's
• 3:51
  Speaker 2: great hedge against debt and deficits. But what else can
• 3:54
  Speaker 2: blockchains do? They can do amazing things on stable coins, topnization,
• 3:58
  Speaker 2: et cetera, and that means broadening your exposure. So I'm
• 4:01
  Speaker 2: hopeful we'll get there this year. From the SEC's perspective,
• 4:04
  Speaker 2: and I think the institutional demand will be there for
• 4:08
  Speaker 2: these other non bitcoin exposures because these are markets that
• 4:11
  Speaker 2: people are very excited.
• 4:12
  Speaker 1: Do you think there's anything that could hold this back?
• 4:15
  Speaker 2: Well, Washington can always fumble it at the one yard line.
• 4:19
  Speaker 2: I mean, how many times have we seen that? So
• 4:21
  Speaker 2: I'm very optimistic about the stable coin bill, but it's
• 4:24
  Speaker 2: not signed into law yet. That would be a significant setback.
• 4:29
  Speaker 2: You could see the SEC be more conservative. Again, I'm
• 4:32
  Speaker 2: very optimistic. I think the data is there, I think
• 4:35
  Speaker 2: the rationale is there. But I've definitely learned over the years, Paul,
• 4:38
  Speaker 2: you can't trust Washington until it's done. So I'm keeping
• 4:42
  Speaker 2: a hawkeye on Washington to make sure they stay on
• 4:44
  Speaker 2: the path of doing the right thing for investors and
• 4:47
  Speaker 2: the right thing for America. I think they will, but
• 4:50
  Speaker 2: you know, let's prove it before we celebrate.
• 4:52
  Speaker 1: Do you feel like maybe the market has desensitized away
• 4:56
  Speaker 1: from tariffs.
• 4:57
  Speaker 2: I think two things are happening. One, I think it's
• 4:59
  Speaker 2: decent they are tied away from tariffs. We realize the
• 5:02
  Speaker 2: world's not going to end. There will be tariffs. They'll
• 5:05
  Speaker 2: be varying in size and will continue to live our
• 5:07
  Speaker 2: day to day lives.
• 5:08
  Speaker 1: Right.
• 5:09
  Speaker 2: I also think to an extent, people are looking at
• 5:11
  Speaker 2: crypto actually, is this source of stability right edge? If
• 5:15
  Speaker 2: you think of do you want to loan government money
• 5:18
  Speaker 2: for the next thirty years? Right? That seems a little crazy.
• 5:21
  Speaker 2: We see these deficits spiraling to infinity. Crypto is just
• 5:25
  Speaker 2: doing its things. So I think it is decoupling a
• 5:27
  Speaker 2: little bit, and I think people are calming down that, yes,
• 5:30
  Speaker 2: the world is changing, but it's not you know, it's
• 5:33
  Speaker 2: not completely changing.
• 5:34
  Speaker 1: How big of a role do you think China's going
• 5:36
  Speaker 1: to play in digital assets?
• 5:37
  Speaker 2: I think it's sort of up to them. If they
• 5:39
  Speaker 2: want to be a closed ecosystem that's oppressive to their
• 5:43
  Speaker 2: people and insists on surveillance and doesn't embrace these decentralized,
• 5:48
  Speaker 2: freedom driving assets that crypto are, then they're not going
• 5:52
  Speaker 2: to play a role at all. They can wall themselves off.
• 5:55
  Speaker 2: If they open up, which they have in the past
• 5:57
  Speaker 2: they've been on again, off again, then they could play
• 6:00
  Speaker 2: I think it's really up to them. I don't know,
• 6:03
  Speaker 2: you know which side of the spectrum they'll fall on.
• 6:05
  Speaker 2: I'm not a China expert, but it's it's up to
• 6:08
  Speaker 2: them right now, it looks like not that big a role.
• 6:11
  Speaker 1: Matt Hogan, always love having you on the show.
• 6:12
  Speaker 2: Thanks for having me today. Yeah, I appreciate it.