Bitwise CIO Matt Hougan believes markets have yet to fully price in the SEC’s radical shift toward crypto, suggesting the industry may be on the brink of a major bull cycle.
A Surprising Speech from the SEC
On July 31, SEC Chair Paul Atkins delivered a groundbreaking speech at the America First Policy Institute, detailing how blockchain could be integrated into financial markets. The speech was hailed by Hougan as “the most bullish document I’ve read on crypto.”
Rather than pushing back on innovation, Atkins emphasized regulatory clarity, pro-growth policies, and a vision that aligns with crypto-native ideas.
“It’s like the chairman of the SEC took all the best ideas crypto supporters have promoted for the past decade and packaged them in a single speech,” Hougan noted.
Despite crypto’s price gains since President Trump’s election and Gary Gensler’s resignation, Hougan says the market still underestimates the SEC’s new direction.
Bitcoin surged when Trump took office and again after Atkins was sworn in on April 21.
Under Atkins, the SEC dropped multiple enforcement actions and launched Project Crypto, focused on building practical regulations.
“I’m realizing I have to think bigger—and move to a faster timeline,” said Hougan. “If it wasn’t priced in for me, it’s probably not priced in for others.”
Blockchain, Super Apps Among Top Priorities
Atkins outlined a future where “substantially all assets”—stocks, bonds, even dollars—will migrate to public blockchains. For investors, this shift points toward massive opportunity.
Super apps, like Coinbase and Robinhood are already experimenting with, also featured prominently in the SEC vision. These multi-functional crypto platforms could be vital in mainstream adoption.
Institutional-Grade Crypto Adoption in Sight?
This marks a fundamental shift in regulatory posture, potentially transforming how institutions interact with digital assets. Hougan argues that serious capital and career bets are now justified.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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