Bitwise’s Hougan says Q3 charts point to ‘crypto spring’

Bitwise chief investment officer Matt Hougan says Q3 may have been one of the best quarters in crypto's history, pointing to a sharp price rebound and growing onchain markets as signs of a 'crypto spring'. Bitwise's large-cap crypto index rose 46.4% in the quarter, and U.S. spot Bitcoin ETFs drew $6 billion in inflows, bringing year-to-date net flows back into positive territory. Tokenized equities grew 65.5% to nearly $3.2 billion, and open interest on decentralized perpetual futures hit a record near $26 billion. Bitcoin rose 42.3%, Ether 69.1% and Solana 59.2%, while Bitcoin miners Riot Platforms and Hut 8 fell 26.4% and 25.4%, and the index remains down 6.2% for the year. Bitwise expects the SEC's innovation exemption to pull billions more in tokenized assets onto blockchains in Q4.

Summary written by Upside AI from the original article. Read the source for full details.

Read the original on Cointelegraph ↗

All news →