The Most Overlooked Opportunities in Crypto As Grayscale Predicts A Tokenization Boom

00:00 Zack Guzman

We're here with Zach Pandl, head of research over at Grayscale. Zach, it's good to see you, man.

00:04 Zach Pandl

Good to see you, Zach, here in Singapore.

00:05 Zack Guzman

A couple of Zachs hanging out in Singapore. Uh, I I want to start with just kind of where we're at in the cycle, what you're seeing. I think the last time we had you on, it was the doldrums of uh lows in the summertime. Now we're out of it. So what do you make of uh us being in the clear?

00:19 Zach Pandl

Look, I think things feel pretty good for crypto at the moment. Our guess, we'll see what the future holds, but our guess is that Bitcoin bottomed at around 58k at the end of June. and we've seen a pretty healthy recovery uh since then. I think what's most encouraging about it is that the news hasn't been all great and yet prices have been recovering. We've been dealing with a Fed rate hike and the backup of longer-term uh rates. The clarity Act uh didn't pass, although there's been some silver linings uh there. but despite that, price has been higher. To me, that says crypto was an oversold asset class uh this summer. And certainly what we hear from our clients, allocators that are looking at the Bitcoin ETFs, the Ethereum ETFs, they're still interested in the basic uh story. They're looking for these assets as a portfolio diversifier, looking at holding them for the long run. Nothing has really changed about that. So, I think maybe we overshot on the downside a bit this summer. The the recovery is very healthy.