Donald Trump · SEC · Wall Street · White House · CLARITY Act · CryptoSlate
SEC’s latest crypto rules only open a few of Wall Street’s ‘million doors’, Bitwise CIO Matt Hougan
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Bitwise CIO Matt Hougan doesn't think Washington's crypto-friendly turn is the moment that completely unlocks Wall Street.
Key facts
- The SEC unveiled its Regulation Crypto Assets proposal on Aug
- The tokenized equity market capitalization reached roughly $2.8 billion as of Aug
- Separate data put monthly transfer volume for tokenized equities near $23 billion across more than 1.3 million holders
- Hougan's specific example was Rule 611, the trade-through rule created under Regulation NMS in 2005
Summary
01 The SEC proposal marks one step in a longer sequence of approvals before institutions can access crypto at scale. 02 Legacy rules, platform approvals, and fragmented infrastructure still shape how institutions use crypto. 03 Even without Rule 611, incompatible tokenized-stock wrappers could split liquidity across issuers, chains, and venues. He described the real barrier as something far less dramatic than a single landmark bill.