Bitwise CIO: Still optimistic about DeFi-related tokens, Aptos and Sui are expected to become ETF competitors

In a recent interview, Bitwise Chief Investment Officer Matt Hougan stated that despite the current downturn in the cryptocurrency market and many supporters of decentralized finance (DeFi) moving away from altcoins, Bitwise remains optimistic about tokens related to DeFi.

Hougan believes that the DeFi sector is currently "severely underestimated" and pointed out that Layer-1 blockchain projects like Sui and Aptos "fully meet" the standards to attract institutional investors.

He mentioned that these projects are led by former Meta stablecoin team members and have a "serious team, serious technology, and technological innovation", which are important considerations for Bitwise when choosing fund assets.

In addition, Hougan also mentioned that Bitwise has already submitted an application this month to launch an Aptos ETF but did not reveal whether there are plans to apply for a similar fund for SUI. Nevertheless, he believes that the launch of SUI and APT's ETFs in the United States could attract new investments into these altcoins.