The Block Media(@TheBlockPods):In Episode 11 of Layer One, @imyoungsparks and special co-host @AvaLabs President @John1wu are joined by @Matt_Hougan, CIO of @Bitwise, to discuss the launch of the Avalanche ETP and how institutional investors are approaching crypto exposure. The group also touched on: • Tokenized real-world assets • ETFs in onboarding capital • Why this cycle may differ from previous ones OUTLINE 00:00 - Introduction 01:40 - Avalanche ETP Overview 02:45 - ETF Differentiation 04:34 - Staking and Yield 06:19 - Institutional Strategy 09:04 - Competing L1 Models 14:22 - Bitcoin Price Thesis 18:49 - Dual Market Narratives 21:57 - Institutional Capital Flows 30:02

2026.04.20 12:18

In Episode 11 of Layer One, @imyoungsparks and special co-host @AvaLabs President @John1wu are joined by @Matt_Hougan, CIO of @Bitwise, to discuss the launch of the Avalanche ETP and how institutional investors are approaching crypto exposure. The group also touched on: • Tokenized real-world assets • ETFs in onboarding capital • Why this cycle may differ from previous ones OUTLINE 00:00 - Introduction 01:40 - Avalanche ETP Overview 02:45 - ETF Differentiation 04:34 - Staking and Yield 06:19 - Institutional Strategy 09:04 - Competing L1 Models 14:22 - Bitcoin Price Thesis 18:49 - Dual Market Narratives 21:57 - Institutional Capital Flows 30:02 - AI and Crypto Future