#Bitwise CIO Matt Hougan: SEC's Pro-Crypto Pivot Is the Most Bullish Signal Yet for Blockchain and DeFi

In a dramatic shift that could reshape the future of finance, Matt Hougan, Chief Investment Officer at Bitwise Asset Management, says the U.S. Securities and Exchange Commission (#SEC ) is turning from crypto’s biggest obstacle into its most powerful ally.

In a new blog post, Hougan hails a recent speech by SEC Chair Paul Atkins as the “most bullish document” he’s ever read regarding cryptocurrency and blockchain technology. The speech, which paints a future where traditional assets are migrated onto public blockchains and decentralized finance (#DeFi ) becomes a core component of the financial system, marks a radical departure from the SEC’s historically combative stance toward the crypto industry.

From #Crypto Adversary to Catalyst: A #Regulatory Sea Change

For years, U.S. crypto firms have operated in a fog of regulatory uncertainty, with the SEC often accused of stifling innovation through litigation and opaque guidelines. But according to Hougan, the tides are turning—and fast.

“The SEC’s pivot from a crypto antagonist to a crypto catalyst is not priced in,” Hougan writes, emphasizing that most investors have yet to grasp the magnitude of this shift.

This transformation is monumental. If U.S. regulators now support the migration of traditional financial systems to public blockchains, it could unlock trillions of dollars in institutional investment, push forward the tokenization of real-world assets (RWAs), and provide the regulatory clarity that’s long been missing for decentralized applications.