<\/p>\n
This is a segment from the Empire newsletter. To read full editions, subscribe<\/a>.<\/em><\/em><\/p>\n We\u2019re heading into the second quarter of the year, and \u2014 as I wrote last week<\/a> \u2014 this last quarter was a doozy.\u00a0<\/p>\n But some folks are feeling kind of good about this next quarter\u2026so far.<\/p>\n Unfortunately, with fresh tariffs on the US horizon, this morning is not off to a great start for crypto or<\/em> equities.<\/p>\n Federico Brokate, head of US business at 21Shares, took away a silver lining to last quarter, which is that 21Shares saw \u201cfantastic flows\u201d for the ETFs. For Brokate, that gives an idea of how much client demand exists.<\/p>\n The continued volatility, especially out of Trump\u2019s White House, may continue to spook some of the more risk-on investors. But Brokate remains pretty positive.\u00a0<\/p>\n \u201cI think we\u2019re seeing all the right tailwinds. And so, yes, the volatility at a macro level is impacting performance here in this asset class \u2014 like every other asset class \u2014 but investors are taking this opportunity to come into the market even at a lower cost basis, which I think is the absolute right move,\u201d he said.\u00a0<\/p>\n None of this, unfortunately, is going to be enough to move us out of the wait-and-see moment we seem stuck in. The big tailwinds are still up in the air: actual regulation, word from the SEC on the slew of crypto ETF filings, and further clarity from the SEC (hopefully from the roundtables they\u2019re hosting).\u00a0<\/p>\n I know it\u2019s not a surprise to any of you, but it\u2019s where we remain. However,<\/em> this quarter could get us out of this rut, if folks like Empire co-host and Blockworks co-founder Jason Yanowitz are right and we have stablecoin legislation in the next few months<\/a>.\u00a0<\/p>\n Funnily enough, though, Brokate thinks we\u2019re actually going to become more <\/em>narrative-driven as institutions continue to pile in. That\u2019s not to say fundamentals won\u2019t play a huge part, but he thinks that investing itself is narrative-driven, and the more crypto aligns with macro, the more important headlines and news events will be.\u00a0<\/p>\n \u201cI think the constant capital [that\u2019s] trickling into the industry is certainly changing the way that prices react to different news. But at the end of the day, all investing, especially when it\u2019s so regulatory and geopolitical \u2014 [given that] crypto is a global asset \u2014 so all these things are very narrative-driven,\u201d he said.<\/p>\n Guess we\u2019ll always have a narrative to fall back on.<\/p>\n Get the news in your inbox. Explore Blockworks newsletters:<\/strong><\/p>\n This is a segment from the Empire newsletter. To read full editions, subscribe. We\u2019re heading into the second quarter of the year, and \u2014 as I wrote last week \u2014 this last quarter was a doozy.\u00a0 But some folks are feeling kind of good about this next quarter\u2026so far. Unfortunately, with fresh tariffs on the […]<\/p>\n","protected":false},"author":2,"featured_media":386081,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-386079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/386079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=386079"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/386079\/revisions"}],"predecessor-version":[{"id":386082,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/386079\/revisions\/386082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/386081"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=386079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=386079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=386079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
\n\n