CFB Talks Digital Assets

The macro canvas for 2026 is shifting, and crypto may be setting up for a broader, more durable “risk-on” regime, but not in a straight line. In CF Benchmarks’ 2026 outlook, “Risk-On Reloaded,” the base case is disinflation with noise, moderating growth, and a policy and liquidity backdrop that can re-open risk appetite and widen participation. We also explore whether Bitcoin and altcoins are poised for a catch-up trade, and whether regulatory clarity unlocks a new wave of product innovation. To pressure-test the thesis, we’re delighted to welcome Juan Leon, Senior Strategist at Bitwise, to the CFB Talks Digital Assets podcast. From the current state of market structure legislation, to allocator and advisor adoption, to long-term capital market assumptions, Juan dives into Bitwise’s 2026 predictions and maps what matters most in the year ahead. Join us for a discussion covering what we’re watching for in 2026, including:Why “risk-on reloaded” could broaden performance beyond Bitcoin, and what a catch-up trade looks likeBitwise’s “if clarity passes” framework: what a regulatory breakthrough really unlocks for participationWhether Bitcoin’s four-year cycle breaks, and what would have to change for that to happenThe allocator moment: why adoption among endowments, advisors, and institutions may be approaching an inflection point as career risk fallsUtility-driven growth flywheels: prediction markets and stablecoinsWhat Bitwise is focused on next: products, approvals, and the near-to-medium term roadmapIf 2026 is the year macro turns supportive, clarity arrives, and crypto breadth finally shows up, these outlooks will help you navigate the year ahead.

Reserve Protocol, the largest Decentralized Token Folio (DTF) platform, recently deployed the first regulated multi-asset crypto benchmark as a DTF - LCAP - based on CF Benchmarks' CF Large Cap index.Index DTFs follow the same basic principles as ETFs, but they're implemented fully on-chain, enabling anyone to achieve a diversified, tokenized investment goal, with just a few clicks.What's more, by referencing an FCA-regulated Registered Benchmark, LCAP paves the way for institutional allocation to index DTFs for the first time.To walk us through exactly how DTFs work, plus the accelerating tokenization trend, we're delighted to welcome the Head of Reserve Protocol, Thomas Mattimore to the CFB Talks Digital Assets podcast.A selection of highlights from our fascinating conversation:Reserve Protocol design features that optimize it for tokenization of any digital asset - and, in time, tokenization of any real-world asset tooDon't underestimate the power of index DTFs: e.g., LCAP offers exposure to 95% of the crypto market in one click -- on a growing number of decentralized and centralized platforms, including KrakenOnly certain institutional ETF participants can leverage the power of create/redeem mechanics, but anyone can mint/redeem a DTF, giving individuals easy access to arbitrage opportunities embedded in unit creation and redemption for the first timeInsanely low slippage observed, so far, in certain index DTF auctions, with up to 99.99999% of the bid filledReserve Protocol's longstanding and deep focus on good governance - and the role of Reserve Rights (RSRs) for incentivizing that governanceStart getting ready for the tokenized future: sit down with your favorite beverage and catch this episode right now!

Hong Kong’s listed digital asset product market has been on a steady path of growth since the first spot crypto ETFs were launched there around 18 months ago, but one asset manager, stands out: MicroBit Capital Management.Especially because it’s one of the newest operating in the region and specifically focused on digital assets.The firm’s MicroBit Bitcoin Spot ETF (SEHK tickers: 3430, 9430) was launched on August 21st, 2025, but already manages around US $230 million in assets, making it one of the fastest-growing crypto ETFs in the region, since the inception of the product class.MicroBit also launched an ETH fund, MicroBit Ether Spot ETF (3425, 9425) on the same day as its Bitcoin fund. Both ETFs sit alongside a comprehensive suite of institutionally focused investment solutions and strategies offered by the firm, to fulfil its mission of helping clients capture the transformative opportunities offered by both traditional and digital assets.Given MicroBit’s impressive growth, we’re super-excited to welcome their Chief Investment Officer, Kenny Khuong, as our first Hong Kong-based investment management guest on the CFB Talks Digital Assets podcast!Just a sample of topics covered in our wide-ranging conversation:· Why MicroBit’s positioning as a digital-asset focused investment manager has struck a chord with investors seeking exposure to crypto investment opportunities· Why MicroBit’s decision to enter Hong Kong’s competitive crypto product market was astutely timed· As an issuer of one of the first ETH staking ETFs in Hong Kong, Kenny breaks down the mechanics, challenges and opportunities of staking, from an investment manager’s perspective· Why strong crypto ETF demand from Hong Kong-domiciled family offices makes the region one of the most promising in Asia’s digital asset product marketFor a rare look inside Hong Kong’s institutional crypto product market, with an even rarer opportunity to get insights from one of the foremost digital asset portfolio managers operating in the region today, dive into this episode now!Disclaimer The views and information are contributed by MicroBit Capital Management Limited, licensed by the Securities and Futures Commission for Types 1, 4, and 9 regulated activities under the Securities and Futures Ordinance. (Cap. 571). It is intended for Hong Kong investors only.All information contained in this video is provided for general information purposes only and does not constitute an offer, solicitation, or recommendation to buy or sell any securities, funds, or other investment products, nor should it be relied upon as legal, financial, tax, or investment advice. Investment involves risks. The value of investments may go up or down, and investors may suffer losses or lose all invested capital. Past performance is not indicative of future results. Investors should consider their investment objectives, financial situation, experience, and risk tolerance, and seek independent professional advice before making any investment decision. Investors should also refer to the offering document for full details including the objectives, investment policies and risks factors.MicroBit does not guarantee the accuracy, timeliness, completeness, or reliability of the information contained herein. All materials are provided “as is”, without warranties of any kind, whether express or implied. SFC authorization does not imply official recommendation or endorsement, nor does it guarantee commercial merits or performance.This video has not been reviewed by the Securities and Futures Commission or any other regulator in any jurisdiction.

A lot of the excitement following approval of Generic Listing Standards centers on anticipation that specialist crypto ETF firms which have carved out a niche managing altcoin funds, now have an edge.Among these, 21Shares stands out. Founded in Zurich in 2018, the group has since grown into a $10 billion AuM multinational, driven by products like its ARK 21Shares Bitcoin ETF (ARKB).It also listed the world's first Solana ETP in 2021 - including staking rewards from the start.So, with Solana ETFs, plus ETH and SOL staking poised to land on Wall Street imminently, we're excited to sit down with 21Shares' Vice President of US Business Federico Brokate, for a timely episode of CFB Talks Digital Assets.Listen in to get caught up with a range of topics that matter right now.Just a sample:■ How learnings from 21Shares' EU SOL ETP place it in pole position to steward investors through this high-growth, high-yield opportunity■ New income stream, new management skills: investors are converging on firms with the deepest experience of handling the novel operational challenges of staking■ How 21Shares leverages altcoin ETP management expertise, as the number of eligible ETF assets goes from trickle to flood■ As comprehensive as Generic Listing Standards are, some tokens still don't make the cut -- how much scope is there for the standards to expand over time?■ Why liquid staking tokens (LSTs) could eventually sit alongside proof of stake (PoS) assets to raise the effective staked percentageWith Solana and staking about to enter the room, Federico brings an unmatched perspective that crypto investors of all levels can learn from.Time to grab that beverage of choice and soak in a remarkable volume of insights packed into less than 40 minutes!Recorded September 30, 2025.

From a standing start less than a decade ago, Bitwise Asset Management, one of just a handful of US-based digital asset-focused investment firms, recently reached the milestone of $15 billion in AuM. It's a testament to their unique franchise as an established multinational institution, combined with an unmatched track record of crypto investment expertise, capped with a roster of in-demand voices recognized as authorities in the space. With institutional adoption again on the brink of a major inflection point, we're delighted to welcome one of those expert voices -- Head of Research, Ryan Rasmussen -- as our guest on the CFB Talks Digital Assets podcast! Listen in for Ryan's informed insights on critical regulatory unlocks waiting in the wings; as the SEC reviews staking, multi-asset ETPs, and a record volume of live crypto ETF filings.Just a small sample of multiple thought-provoking highlights:How SEC approval of in-kind creation and redemption for crypto ETFs finally leveled the playing field, enabling benefits from operational, tax, and trading efficiencies to flow to investors, APs and issuers; providing another tailwind for adoptionWhy other hotly anticipated regulatory decisions - e.g., multi-asset ETFs, and generic listing standards - seem to be taking so longHow advisors can move the narrative for individual investors and allocators beyond Bitcoin and Ether, to an understanding of why index/basket strategies are increasingly critical as crypto beta evolvesShowcasing Bitwise's groundbreaking 'Bitcoin Long-Term Capital Market Assumptions' report, as BTC graduates to an "institutional epoch", and potentially targets $1.3 million by 2035Why Ethereum's 'renaissance' - huge price gains, record flows, and increasing network usage - are no surprise from the perspective that it's crypto's "operating system"; as use cases like stablecoins, DeFi, and tokenization, intensifyWhether you're a newcomer or an OG, institutional allocator or individual account, this is yet another episode for anyone interested in digital assets who seeks expert crypto investment insights from the cutting edge.

The digital asset industry is growing at breakneck speed. A surge in crypto IPOs, the rise of corporate digital asset treasuries, and an expanding pipeline of deals are reshaping the market. Now, with the Clarity Act promising regulatory certainty, the pace of institutional engagement is accelerating like never before. In this episode of CFB Talks Digital Assets, we’re joined by John Todaro, Managing Director of Crypto, HPC/AI Research at Needham & Co, for a wide-ranging conversation on the latest trends shaping the market in 2025. A few highlights from the discussion:Why Needham chose to launch dedicated crypto coverage back in 2021 and what they’re tracking nowThe red-hot crypto equity and IPO market: are valuations too hot, or is this simply the release of pent-up demand?Inside the wave of corporate digital asset treasuries: from BTC and ETH adoption to systemic risks that could emergeThe Clarity Act: what the new regulatory framework means for institutional participation and M&A in the spaceFor those watching the intersection of traditional finance and digital assets, this episode is essential listening. Join hosts Gabriel Selby, Mark Pilipczuk and Ken Odeluga as they unpack these topics with one of Wall Street’s leading crypto analysts.

Recorded July 15, 2025. We're just past the half way mark of one of the most geopolitically and politically volatile years for decades - yet key digital assets are continuing to set new highs. On the face of it, it's a classic set-up for a significant pullback, maybe exacerbated by simmering inflation and questionable growth, combined with rising skepticism on earnings, amid lofty valuations.Still, considering Bitcoin's historical asymmetric risk-adjusted return profile, the outlook's almost certainly going to be more nuanced.That makes the CF Benchmarks Q3 outlook report an essential guide for what to watch in the current quarter and how to play it.Join Head of Research, Gabe Selby, CFA and Research Analyst Mark Pilipczuk as they talk through their report: 'Alpha in the Aftermath: Moving Beyond the 60/40' on the latest episode of CFB Talks Digital Assets.A few highlights from the conversation:The Fed's 'impossible' balancing act amid tariff uncertainty and the risk of cutting too late - not to mention prospects of a 'Shadow Fed Chair'How cracks are showing in lengthening bond auction 'tails', hinting that vigilantes are again waiting in the wingsBitcoin's place, alongside real estate, gold, and other assets, with the resumption of dollar debasement on the horizonBTC's 'unique' edge amid the SAB121 repeal, paving the way for mass collateralizationHow multi-asset portfolios are in focus ahead of the SEC's anticipated universal listing procedures for spot crypto ETFs - enabling institutional allocation in sizeAs tokenization switches from science fiction to science fact, with platform's like Kraken's xStocks, how the era of smart contract platforms has truly begunFor informed insights on these points and more, from institutional practitioners across all asset classes, listen in now.

The recent debut of Evolve's XRP ETF (XRP), and Evolve Solana ETF (SOLA), show the firm remains at the cutting edge.Forward-thinking investment management has been key, and that's been consistently supplied by Evolve's CIO, Elliot Johnson.Join us to hear how Elliot navigates the unique opportunities and challenges of managing listed crypto investments in Canada.Just a few of many conversation highlights...How professionals can bridge the gap in investors' understanding of staking ETFsHow Evolve operationalizes staking in Evolve Solana ETFElliot's crystal-clear breakdown of how XRP fixes the costly and inefficient cross-border payments systemWhy Evolve Cryptocurrencies ETF (ETC) serves as an alternative rail for first-time digital asset investorsListen in now, and learn for tomorrow!DISCLAIMERPublished July 1 2025.Evolve Funds Group Inc. is the investment fund manager and portfolio manager. All Evolve ETFs’ funds described herein is offered by Evolve Funds Group Inc., and distributed through authorized dealers. The information contained herein is a general description and is not intended to be specific investment advice or a recommendation or solicitation to buy, sell, stake or hold any crypto asset or engage in any specific strategy. You should not act or rely on the information contained herein without seeking the advice of an appropriate professional advisor. The information contained herein is intended for informational purposes as a summary only, does not constitute an offer to sell any securities or a legally binding obligation, it is qualified entirely by, and should be read in conjunction with, the more detailed information appearing in the prospectuses found on the Evolve Funds Group Inc website at evolveetfs.com. The unpredictable nature of the cryptoassets can lead to loss of funds. Leverage increases risk. Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain information contained herein is obtained from third parties. Evolve Funds Group Inc. believes such information to be accurate and reliable as of July 1 2025, however, we cannot guarantee that it is accurate or complete or current at all times. The information provided is subject to change without notice. Certain statements contained herein are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what Evolve Funds Group Inc. and the portfolio manager believe to be reasonable assumptions, neither Evolve Funds Group Inc. nor the portfolio manager can assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

North America's true spot crypto ETF pioneers are Canadian!The first physical Bitcoin funds listed on Toronto's TSX in early-2021.Now, Canadian issuers are leading crypto's integration into mainstream markets again, with the region's first Solana ETFs - and - the first to incorporate staking.Among these, 3iQ's Solana Staking ETF (tickers: SOLQ.U. SOLQ) is gathering assets fastest to date, and the firm is also staging an exciting expansion into a broader range of digital asset investment products and services.So, for a timely overview on Canada's regulated crypto space, exclusive insights on how staking works in ETFs, plus pointers on what 3iQ's building right now, we're delighted to welcome their CEO, Pascal St-Jean, to the CFB Talks Digital Assets podcast.Join us for exclusive insider insights, including:* Why Solana staking ETFs were the next logical frontier* How 3iQ plans to leverage crypto native R&D to compliantly stake above 50%* How Canada's pragmatic regulatory regime makes XRP the obvious choice for the next crypto ETFs* A sneak peek at 3iQ's custom solutions for wealth and advisory channels, and cutting-edge institutional DeFi rails* Keep a close eye on Canada's pension and wealth allocatorsDon't sleep on Canada's influence on crypto's evolution - and don't sleep on this episode!Dive in now and stay ahead.

With a notional $1 trillion-plus in CME Bitcoin and Ether futures settled by CF Benchmarks indices since their launch, our partnership is one of the most pivotal in crypto.Meanwhile, after the Solana futures debut in March, and with the launch of XRP futures coming next week, the leading derivatives marketplace continues to play a critical and growing role in the evolution of the digital asset class. It's why we're stoked to welcome Brian Burke, CFA, senior director overseeing crypto options at CME Group, as our extra special guest on the CFB Talks Digital Assets podcast!Join us for an exclusive look inside crypto's biggest regulated marketplace, where both institutional and retail participation are accelerating.A few of many enlightening talking points:'Crypto VIX' Futures? - With global market volatility in the news, how close are we to CME Bitcoin volatility futures?Quicker Roadmap - how increasing regulatory clarity, rising market maturity, and falling information asymmetry are driving a faster cadence of crypto derivative launches - and what to expect nextSolana Surprise - SOL futures volumes and open interest are outpacing expectations: what's behind the momentum?'Proto Perps' imminent - With smaller contract sizes and super-long dated expiries, how upcoming Spot Quoted Futures (SQF) can fill the retail gap even more - and why institutional players are interested tooDive in now for a revealing conversation on the oldest derivatives venue's enduring place in the newest asset class!

As markets contemplate what the next 100 days hold in store, we're stoked to have another dose of exclusive insights from FalconX's Head of Research, David Lawant, from his vantage point serving the biggest investors in the world. A small sample of topics you really don't want to miss:Meet Bitcoin's decoupling from alts, with institutions playing a bigger role via ETF flowsOne crucial difference between Bitcoin's 'tariff crash' and historical routs: volumes were 25%-50% lower this time'Goldification': how BTC's dollar-defensiveness and flattening implied volatility make it more and more of a safe havenA surprise split between Solana client personas: did you know crypto native institutions trade more SOL than ETH?'Ethereum is Dead' vs. 'Ethereum's Just Getting Started' - a tactical bias in ETH trading post ETF options debutCFTC-regulated 'perps' are coming - very probably! How markets are sleeping on the implicationsGet ready for whatever's next. Dive in now!

In this episode of CFB Talks Digital Assets, we break down CFB Research's Q2 2025 Market Outlook, “The New Equilibrium: Unraveling Economic Tension & Thematic Tailwinds."From stubborn inflation and global growth uncertainty to proactive regulatory shifts and strengthening structural themes, the quarter ahead is defined by both tension and opportunity. We explore how digital assets are being shaped by overlapping forces: macroeconomic crosscurrents, legislative momentum, and evolving investor preferences.Sample highlights ↓* The shift in US trade policy and what it means for the path of monetary policy* How pending legislation could set US issuers to dominate the stablecoin landscape* Ethereum’s Pectra upgrade and what it means for the network going forward*Why we anticipate the value factor to outperform going forward, and what CFB's factor model tells us about last quarter's move* Bitcoin’s correlation with global M2 and the potential for a liquidity-driven move in Q2If you’re looking to make sense of an investment landscape at a critical inflection point—this is your guide to the themes that matter.Recorded Friday April 4, 2025.

We’re delighted to welcome one of the most esteemed and authoritative institutional crypto practitioners back to the CFB Talks Digital Assets podcast - Matt Hougan, Chief Investment Officer of Bitwise Asset Management.As well as informed insights on recent market volatility, we’re also fortunate to get Matt’s take on critical regulatory and political developments impacting the space so far this year.Sample highlights ↓* Signs of exponential growth in the Bitwise VettaFi financial advisor survey:- Allocations doubled to an all-time high of 22% in 2024; a rate equivalent to the growth over the previous six years combined* How existing investors are moving beyond Bitcoin and Ethereum to explore the ‘crypto sleeve’ - diversified crypto portfolios, and why that trend is set to prevail.- Also, why 60/30/10 is optimal* Why markets are still over-discounting the significance of Washington’s proposed Bitcoin Strategic Reserve* Despite the SEC’s Ripple retreat, how Solana (SOL) is likely still in pole position to be the next crypto approved for spot ETFsWe can’t stress enough: this conversation is packed with informed alpha, from quite possibly the best-known crypto CIO in the world - do not miss!Recorded March 20th, 2025.

Recorded March 11, 2025.Time for the Q1 market review edition of our CFB Talks Digital Assets podcast - where the CF Benchmarks research team, Gabe Selby and Mark Pilipczuk, put that complex first quarter under the microscope.Key themes:■ How sharp does a crypto market tumble need to be to constitute a correction?And when does a crypto correction become a bear? Get our analysts’ take on the equivalent of the down 10% but <20% rule of thumb, for stocks■ Even amid the overall downturn, our Diversified Broad Cap Index - best proxy for crypto beta - underperformed its free float counterpart by 800 basis points. Hear why■ Takeaways from the broader negative breadth in Q1 2025 vs. Q3 2024. And what’s the story behind XRP’s solo positive performance among large caps?■ Flight to quality is no stranger to crypto! Detail and potential alpha in the aftermath of ‘Meme-lash’...■ Quantifying and qualifying the strengthening stocks-crypto correlation. And why was the strongest crypto-fixed income correlation with 20-yr US Treasurys?

Following Franklin Templeton’s recent launch of Franklin Crypto ETF, ticker EZPZ, the asset management giant now has three digital asset ETPs in its roster. But if you thought Franklin’s crypto journey only began with the Bitcoin and Ether ETFs it listed last year, you’re probably unaware of just how significant and longstanding its digital asset footprint actually is ... not to mention the laser eyes! Well, here’s your best chance to catch up quick: we’re honoured to welcome Franklin’s Head of Digital Assets, Roger Bayston, and Head of ETF Product and Capital Markets, David Mann, to the CFB Talks Digital Assets podcast. Join us to learn how EZPZ is just one of the fruits of Franklin’s growing track record on-chain, stemming from their tokenized money market fund launched in 2021, and beyond. Sample highlights in our deep dive -What makes Franklin Crypto ETF the most EZPZ route to BTC + ETH exposure?Why Franklin chose our CF Institutional Digital Asset Index – US Settlement Price (IDAX) as EZPZ’s reference indexSigns that advisors are coming round to the idea that zero allocation to crypto is the biggest riskWhy Roger thinks getting indices like IDAX into model portfolios could be key for greater crypto diversificationHow learnings from Franklin’s multi-chain money market fund, FOBXX and its BENJI token, are paving the way to increased efficiency, convenience, and growth for investorsThe Franklin Templeton edge with advisors, from a deep bench of crypto expertise, research - and that unmatched history on-chainFor a conversation packed with institutional crypto insights, grab this show right now!

One of Ethereum’s newest and most exciting Layer-2s is of course Ink, unleashed by Kraken on the Optimism Superchain in December - so we’re thrilled to welcome Andrew Koller, Ink’s founder, to the CFB Talks Digital Assets podcast. With deep on-chain expertise, Andrew dives into some of the most critical topics shaping the future of Ethereum, institutional participation, and how the network scales to a billion users. Top points include:Are meme coins the ultimate Trojan horse for mass adoption, or is their life cycle limited?Can Ethereum learn from Solana’s UX, and how can users expect the on-chain experience to be more seamless following the Pectra upgrade?How Kraken’s expertise in stablecoins is being put to work to improve on-chain liquidity using USDT0Are partnerships with players like Securitize paving the way for a wider array of tokenized assets, and what can Ink do to make institutions comfortable bringing assets on chain?The rationale behind building on the OP stack and the road towards full decentralizationAll in all, this is a must-listen for anyone interested in Ethereum’s future.

Recorded 29 January 2025.We’re beyond stoked to welcome Marco Santori as our guest on the CFB Talks Digital Assets podcast.Marco was Kraken’s Chief Legal Officer for, quite possibly, 5 of the most pivotal years crypto will see for some time, and he remains a senior Kraken advisor.Widely thought of as ‘Crypto’s Attorney’, Marco has been the driving force behind several initiatives in the US - many with implications beyond - aiming for fairer and clearer future regulations, and a more rational application of current regulations.Little wonder Marco is also - reportedly - a candidate to be chair of the Commodities and Futures Trading Commission (CFTC).If you’re serious about how US crypto regulation could (and should) evolve, and what could truly revolutionize access to digital assets there, don’t miss this episode.Top points include:De-constructing Operation Choke Point 2.0: how ‘shadow de-banking’ gets dismantledWhat needs to happen for a Crypto Strategic Reserve to see the light of day ... if it ever willWhy FIT 21, Token Generation Events (AKA ICOs) and streamlined tax reporting should be among top priorities of the White House’s crypto working groupWhy there’s a ‘good chance’ the SEC will pivot to ‘in-kind’ from ‘cash-create/redeem’ for crypto ETFsThe super-fast route to market for Solana ETFs (and others) by SEC discretion

Recorded 17 January 2025.The potential for factor-based investing to one day be applied to digital assets, has long been a tantalizing prospect.But it’s not been possible - till now.CF Benchmarks’ recent report - ‘A Factor Model for Digital Assets’ - demonstrated the existence of ‘classic’ asset market behaviour patterns (factors), like Momentum, Liquidity, Value and others, within the crypto asset class, beyond any reasonable doubt.For the clearest possible exploration of the research, the CFB Talks Digital Assets team were stoked to welcome CF Benchmarks quant and product manager Cristian Isac, back to the podcast.Listen in to 5x your understanding of Crypto Factors.Key points include....The quickening pace of institutional participation, and why it means the time for a digital asset factor model is nowHow classic models like CAPM and Fama-French were adapted for use on crypto’s unique dynamicsSurmounting the data quality challenge: observations across rebalances, universes, and monetary regimesImpressive results; e.g.: Size - risk premium: ~9% annualised; Sharpe: 0.5; Growth - risk premium: ~25% annualised; Sharpe: ~ 1.5All in all, this episode should be essential listening for quants, portfolio managers, and investment professionals in general; anyone, in fact, serious about the evolution of digital asset investing.

Recorded 7 January 2025.Digital assets have a high bar to beat in 2025, after a stonking 2024!But with a new pro-crypto US administration waiting in the wings, this year promises to be just as consequential.Markets-wise, January is off to a less than sure-footed start.As CF Benchmarks Head of Research Gabe Selby, CFA, and Research Analyst, Mark Pilipczuk point out in our first podcast of 2025, it’s a follow-on from the ’Santa Rally’s no-show in December.That was after one of the strongest returns for years by our mega cap basket, the Ultra Cap 5, though.And, with alts underperforming overall, catch-up trades could be on the table. But which ones?Join Gabe and Mark, with Head of Content, Ken Odeluga, as they tally up crypto’s seismic 2024, and surface everything to watch going into another critical year.Top themes:AI agents: With some already earning above the median US wage, find out how they could soon be market-making, operating cross-chain liquidity, and even making agent-to-agent transactions. What could possibly go wrong!Ether fund flows punched above their weight relative to the ETH/BTC ratio into year-end, but ETH AuM still doesn’t reflect that pair’s joint market cap weight. Does Dec’s $2B ETH inflow mean the catch-up is on?Regulatory transition: How likely are we to see Solana and XRP ETFs, before we see SOL and XRP DCMs? Which filings have the highest chance of near-term approval?How to gauge when our research team’s call for RIA crypto ETF holdings to breach 50% of the total is in sightAll in, it’s time once again to grab your preferred beverage, sit down, and soak up the latest insights from our true institutional insiders.

Recorded 19 December 2024.The final CF Benchmarks podcast episode of the year is the perfect companion for exploration of our research team’s 2025 Market Outlook Report, which is picking up a lot of well-deserved media attention right now! Join Head of Research Gabe Selby, CFA, and Research Analyst Mark Pilipczuk, as they unpack the highlights with Head of Content, Ken Odeluga.Get our analysts’ reaction to the Fed’s ‘hawkish pivot’ last week, which upended policy expectations and triggered a big volatility spike. How much has the rate outlook really changed? And what are the implications for markets?The Bond Vigilantes are back! How will the Fed react as these influential participants flex their muscles?As for crypto in 2025 - we’re set for another exciting year. Listen in as our research team breaks out the highest-probability themes:Implications of a huge ramp up in blockchain scalability, with transactions per second starting to outpace legacy infrastructure speedsHow the TradFi-crypto convergence could be fuelled by a 50% surge in stablecoin growth to $300 billion by end 2025Meet your new crypto AI AgentWhy RIAs are set to take over as the dominant holders of crypto ETFs from hedge fundsThe Regulatory Reset - key bills to watch in 2025: The Bitcoin Act, FIT21, Loomis - Gillibrand, and others* Clarification of comments on net fund flows (27:40):“$37 billion” refers only to total flows into BlackRock’s iShares Bitcoin Trust ETF. For precision, BlackRock’s IBIT achieved nearly $53 billion in AuM within 11 months post-launch. As of December 2024, total U.S. spot Bitcoin ETF AuM was around $105 billion.