Bitwise’s 2026 Thesis: Crypto Enters Its Most Important Phase Yet w/ @BitwiseInvest CIO @Matt_Hougan & Head of Research @RasterlyRock Crypto isn’t maturing because prices went up. It’s maturing because who is buying has changed. This conversation explains why that shift matters more than any chart. Tune in to know more ⏱ TIME POINTS ⏱ 00:00 – Intro 01:12 – $BTC Breaks the 4-Year Cycle? 09:10 – Is Bitcoin Less Volatile Than Nvidia? 11:50 – ETFs Buying More Crypto Than Miners Produce 13:56 – Why Crypto Equities Could Beat Big Tech 16:35 – Polymarket: What’s Driving the Surge? 21:50 – Stablecoins vs Emerging Market Currencies 23:26 – Bridge 23:50 – Chainlink 24:10 – Stablecoins vs EM Currencies (Continued) 25:45 – Chain Vaults (ETFs 2.0) Explained 29:40 – $ETH & $SOL: New Highs After Regulation? 33:00 – Why Ivy League Endowments Are Buying Crypto 39:03 – Reserve 39:31 – Ivy League Endowments (Continued) 40:18 – 100+ Crypto ETFs Are Coming 41:20 – Why Bitcoin May Decouple From Stocks 45:00 – Are Institutions FOMOing Into Crypto? 48:18 – Wrap-Up