Prices Slump, But Stablecoins, RWAs, and Bitcoin Futures Hit Record Highs: Bitwise Report

Key Points

1. The Bitwise 10 Large Cap Crypto Index fell 18% in Q1, with Ethereum dropping 45% and crypto equities declining by 27%.

2. Stablecoins posted $218 billion in assets under management, up 13.5% from the previous quarter.

3. Tokenized real-world assets (RWAs) surged over 37% quarter-over-quarter, and regulated Bitcoin futures trading volume and open interest reached all-time highs.

4. Bitwise identified potential Q2 catalysts, including increased global liquidity, progress on stablecoin legislation, and the expected repeal of SEC guidance SAB 121.

5. Bitwise CIO Matt Hougan warned of fragile progress without Congressional support for lasting crypto regulation.