19 days ago
What do you think will be the biggest crypto trends in 2024?
In my personal opinion, I do think that the high point of the crypto market in 2021 really was the high-water market of this era of very DIY, unregulated, sort of community-run bootstrapped protocols. I think that going in subsequent years, including now, we’re going to see a pretty stark shift in which DeFi stops looking so much like a completely separate ecosystem. It will for all intents and purposes become a subset of TradFi.
I don’t think the DeFi versus TradFi distinction is going to last. Obviously, we’re seeing a number of ETFs undergoing the registration process. In the background, major players are obtaining licenses to engage in a wider array of financial activities in the U.S.Coinbase, for example has,registered as a Futures Commission Merchant and also as a Designated Contract Market with the CFTC. That authorizes them to operate an exchange and open accounts within the futures markets. Those will be focus, of course, on Bitcoin and Ether.
Coinbase and Circle are accumulating different components that will allow them to become deeply integrated operators within traditional finance. I think that is very interesting. In parallel to that, you have folks such as Fidelity and Franklin Templeton and BlackRock developingregulatedcryptoinvestmentproducts. Franklin Templeton is developing its own tokenized Treasury Bill ETF. It’s pretty clear that will be a source of momentum for the industry over the next several years.