Bitwise CEO: Crypto Investment Has Entered a Multi-Yield Era
Hunter Horsley, CEO of Bitwise, stated that the crypto market is evolving from single-asset purchases to a multi-layered return system that includes alpha opportunities, DeFi yields, and staking returns. He emphasized that Bitwise's core positioning is to help investors filter and allocate in complex on-chain opportunities.
He also mentioned that the company is advancing on-chain solutions to connect users more directly with these sources of yield. This statement aligns with trends from several English asset management institutions, which are expanding crypto assets from "price speculation" to "yield-generating asset portfolios."
Source: Public Information
ABAB AI Insight
This reflects the evolution of crypto assets from a "single beta" to a "multi-layered yield structure." The early market primarily relied on price appreciation for returns, while now it is beginning to introduce yield stratification similar to traditional finance: underlying assets, strategy alpha, interest-type yields (staking), and structured yields (DeFi).
This change is essentially a process of financial deepening. As asset classes mature, single price fluctuations are insufficient to meet capital demands, leading to the derivation of more yield tools and strategies, thereby enhancing capital retention and market stability. Bitwise's role is essentially that of an "asset manager and structure designer" in this process.
The advancement of on-chain solutions means that the asset management industry is attempting to bypass traditional intermediary structures and directly access protocol layers for yield. This will change the fee structure and profit distribution, shifting some value from traditional financial intermediaries to protocol and technology providers.
In the long run, this trend signifies that the crypto market is gradually integrating into the global asset management system. As yield sources become diverse and combinable, crypto assets will no longer be just high-volatility allocations but can be part of multi-strategy portfolios, with pricing logic closer to that of mature financial markets.