Bitwise CIO: SEC Crypto Pivot Underpriced, DeFi to Soar
Bitwise CIO Matt Hougan says the SEC crypto pivot under Chair Paul Atkins remains underpriced by markets. In a July address, Atkins outlined a pro-crypto vision to integrate blockchain, launch super apps merging trading and payments, and clarify rules via Project Crypto. Since Trump’s election and Gary Gensler’s exit, Bitcoin and other tokens have rallied. Hougan calls Atkins’ speech the most bullish crypto document he’s read. He notes that the market has yet to price in rescinded enforcement actions and regulatory clarity, predicting 10x–100x growth in DeFi and trillion-dollar upside for platforms like Coinbase and Robinhood. Traders should reassess portfolios and boost digital asset allocations ahead of further gains driven by this SEC crypto pivot.
Bullish
The SEC crypto pivot under Chair Atkins signals a major shift in U.S. policy. Short term, the rescission of enforcement actions and launch of Project Crypto should boost confidence, driving immediate buying pressure in Bitcoin and DeFi tokens. Longer term, clear regulations and support for blockchain innovation and super apps are likely to attract institutional capital, creating sustained demand and ecosystem growth. Historical precedent shows that regulatory clarity often precedes bull markets in crypto. Traders can expect upward price momentum as the market adjusts to this pro-crypto stance, making the news decidedly bullish.