Paul Atkins, chairman of the Securities and Change Fee (SEC), unveiled Mission Crypto final week, an initiative that Bitwise CIO Matt Hougan is looking the “most bullish” crypto doc he’s ever learn.
Key Takeaways:
- SEC’s Mission Crypto indicators a significant shift towards onchain finance.
- Bitwise CIO sees Layer 1s, DeFi, and super-apps as prime crypto bets.
- Institutional adoption of DeFi might unlock new worth for buyers.
In a memo to purchasers on Tuesday, Hougan described Atkins’ plan as an entire rethinking of how monetary markets ought to work within the digital age.
In keeping with Atkins, all belongings, together with shares, bonds, and {dollars}, will finally migrate onchain, with decentralized finance (DeFi) on the core and blockchain-native corporations main the cost.
“It’s probably the most full imaginative and prescient of how crypto can reshape monetary markets that I’ve learn,” Hougan wrote, including that the initiative transforms crypto from fringe to foundational.
Most Bullish Crypto Bets Bitwise CIO Says You Shouldn’t Miss
Hougan highlighted three key funding alternatives: Layer 1 blockchains, crypto-enabled super-apps, and DeFi platforms.
Ethereum leads the pack in Layer 1 infrastructure, however Hougan advises diversification throughout different networks like Solana, Cardano, and Avalanche.
He warns that early dominance doesn’t assure future management, citing previous tech cycles the place preliminary winners finally light.
Bitwise, which already gives spot Bitcoin and Ethereum ETFs, is pushing to broaden its publicity by way of a crypto index ETF, at the moment buying and selling beneath ticker “BITW.”
The fund contains belongings like BTC, ETH, SOL, and XRP, aligned with Hougan’s diversified wager on foundational blockchain infrastructure.
Past base layers, Hougan pointed to monetary “super-apps” as a future battleground.
Atkins’ speech laid out a regulatory path for broker-dealers to seamlessly supply crypto and conventional belongings beneath a unified license regime.
Coinbase and Robinhood are each transferring on this route, and Hougan believes the agency that cracks this mannequin might turn out to be the world’s most useful monetary firm, doubtlessly surpassing a $1 trillion market cap.
DeFi, lengthy caught in a regulatory limbo, additionally will get a nod in Mission Crypto. Atkins acknowledged that DeFi doesn’t match conventional frameworks and requires new considering.
Hougan sees that as a sign that platforms like Uniswap and Aave, already boasting billions in buying and selling quantity and TVL, may very well be on the verge of institutional adoption.
He expects DeFi tokens to develop stronger financial ties to protocol efficiency, unlocking extra worth for buyers.
SEC Chair Vows to Carry Crypto Innovation House with ‘Mission Crypto’
Earlier this week, Atkins reaffirmed his dedication to retaining the subsequent wave of economic innovation within the U.S., stating the SEC won’t let abroad markets outpace American capital markets.
We’ll make sure that the subsequent chapter of economic innovation is written proper right here in America.
Watch highlights from my speech launching Mission Crypto at @A1Policy. pic.twitter.com/euqY9samPt— Paul Atkins (@SECPaulSAtkins) August 4, 2025
Talking on the America First Coverage Institute, Atkins emphasised the company’s dedication to assist a thriving onshore crypto ecosystem.
He additionally backed the newest report from the President’s Working Group on Digital Belongings, calling it a blueprint for U.S. management in blockchain.
Atkins framed the hassle as a part of a broader nationwide agenda, declaring that beneath new steering, “our crypto asset economic system will probably be” a part of America’s Golden Age.
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