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

Bitwise’s Matt Hougan said nearly every fundamental indicator that Bitwise tracks spiked sharply higher.

Bitwise chief investment officer Matt Hougan says Q3 may have been “one of the best quarters in crypto’s history,” arguing a sharp rebound in crypto prices and growing onchain markets point to the start of “crypto spring.”

In its quarterly market review published Thursday, Bitwise reported a 46.4% quarterly gain in its large-cap crypto index, along with $6 billion in US spot Bitcoin ETF inflows that brought year-to-date net flows back into positive territory. 

The growth extended beyond the price of cryptocurrencies. The value of tokenized equities rose 65.5% to nearly $3.2 billion, while open interest on decentralized perpetual futures hit a new record near $26 billion, with a growing share tied to stocks, commodities, foreign exchange and pre-IPO shares.

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