Market Cap

Market Cap is the show for serious capital in crypto. Stefano hosts allocators, market makers, and institutional operators to unpack the flows, structures, and mechanics shaping the asset class. Conversations focus on market structure, liquidity, the bridge between TradFi and crypto, and the questions allocators are actually asking. Built for professionals who treat crypto as a market, not a meme.

Market Cap is a business podcast hosted by Unknown Host, with 0 episodes on record and a Required Pod Score of 80.

Unknown Host hosts Market Cap, a business show with 0 episodes published.

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  Market Cap

  Bitwise, Michael Howe | STRC $70 Depeg, Covered Calls ETF $100M AUM, Zero Institutions Sold in Bear

  Oct 1, 202657 min

  On this Market Cap episode, Michael Howe, Head of Strategy at Bitwise Europe, joins our Director of Institutional Partnerships, Stefano Sanabria. We review the introduction of preferred equity vehicles, covered calls ETFs, and other yield-oriented structured products such as SMAs, and assess how they fared. Further we discuss their Lighter ETP, define the primary categories for such products, and outline the many counterparties involved in bringing them to market. And finally we consider whether their vaults will rival ETPs, how to get those "institution-ready", and their intricate linkage to RWA products. Chapters 02:53 Insights from EBC 05:52 Institutional Adoption of Crypto 08:53 The Search for Yield in Digital Assets 11:57 Emerging Yield-Oriented Products 14:49 The Evolution of DeFi and Yield Solutions 17:56 Innovations in Structured Digital Asset Products 20:50 The Future of Investments and Market Dynamics 29:08 Democratizing Investment Access 30:39 Innovations in Financial Products 32:46 Evaluating Investment Opportunities 36:01 Navigating Regulatory Landscapes 38:43 The Future of Vaults and RWAs 42:33 Institutional Readiness of Vaults 45:12 The Evolution of Financial Products 50:35 The Role of AI in Investing 53:57 Upcoming ETP Launches — On Market Cap we speak with firms and individuals to explore the thinking that guides them, the patterns they observe, and other forces moving the markets. Watch the video version: https://x.com/AleaResearch/status/2105601053773218002

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  Market Cap

  Bitvavo, Ramin Kader | 50% of Global EUR Volume, Only 20% Get a MiCA License, Circumventing FX

  Sep 17, 202644 min

  On this Market Cap episode, Ramin Kader, Director of Institutions & Markets at Bitvavo, joins our Director of Institutional Partnerships Stefano Sanabria. Ramin explains how Bitvavo built 50% of global EUR-denominated crypto spot volume, how retail demand helped create a liquidity flywheel, and why EUR liquidity matters to institutions that don't want to take unnecessary FX exposure. He also discusses MiCA’s impact on the European exchange landscape, why only a fraction of previously active firms obtained authorization, what institutions actually require from an exchange, and why some now want T+1/T+2 settlement despite crypto’s ability to settle instantly. Chapters 02:13 From ING to neobanking 05:39 The rise of crypto neobanks 08:05 Stablecoins and the future of payments 13:36 Bitvavo’s rise to 50% of EUR volume 15:46 The exchange liquidity flywheel 22:31 Why EUR liquidity matters to institutions 25:05 MiCA and Europe’s push for local liquidity 29:23 Bitvavo’s regulatory pre-positioning 35:58 Bitvavo’s shift toward institutions 40:31 Why institutions want T+1/T+2 settlement — On Market Cap we speak with firms and individuals to explore the thinking that guides them, the patterns they observe, and other forces moving the markets. Watch the video version: https://x.com/AleaResearch/status/2100592706708033839

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  Market Cap

  EY Parthenon, Igor Mikhalev | Europe's 1% Share, Yield-Bearing Deposits, $1M Licenses to Innovate

  Sep 11, 202646 min

  On this Market Cap episode, Igor Mikhalev, Partner Digital Asset & Market Infrastructure Strategy at EY Parthenon, joins our Director of Institutional Partnerships Stefano Sanabria. He explains how traditional consulting firms approach blockchain and digital assets, what prevents them from placing larger strategic bets, and how EY-Parthenon works across both incumbent and crypto-native businesses. He also illustrates Europe’s position in digital finance, the constraints created by regulation, the role of stablecoins and tokenized deposits, and what could allow European financial markets to remain competitive. Chapters 02:36 The early blockchain boom 05:20 Innovation needs strategic thinking 07:29 What firms ask strategy consultants 10:46 Bridging crypto and traditional firms 15:54 How consulting firms approach digital assets 18:44 Open data and open innovation 24:02 Europe’s digital finance position 27:22 What Europe can do to compete 30:57 Competition and the monetary order 34:15 Why euro stablecoins face a challenge 38:13 The case for tokenized deposits 42:26 EY-Parthenon’s stablecoin tracker — On Market Cap we speak with firms and individuals to explore the thinking that guides them, the patterns they observe, and other forces moving the markets. Watch the video version: https://x.com/AleaResearch/status/2098074691198193874

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  Market Cap

  Fundstrat, Sean Farrell | Impact of RIAs, Liquidity vs. Earnings Led Markets, BTC Non Safe-Haven

  Sep 3, 202645 min

  On this Market Cap episode, Sean Farrell, Head of Digital Asset Strategy at Fundstrat, joins our Director of Institutional Partnerships, Stefano Sanabria. We discuss how Fundstrat’s client base has evolved, with more traditional hedge funds, asset managers and RIAs moving in with Bitcoin ETFs, regulatory developments and high-profile IPOs. The marginal investor increasingly manages Bitcoin alongside equities, commodities and currencies, with ETFs expanding the investor base and crypto becoming integrated into investor benchmarks. Chapters 01:07 Sean Farrell’s Background in Finance 03:41 How Sean Entered Digital Assets 07:58 Fundstrat’s Digital Asset Research 13:31 Why RIAs Are Looking at Digital Assets 17:01 Fundstrat’s Macro Approach to Digital Assets 20:35 Data and Fundamental Analysis in Digital Assets 24:27 Liquidity, Earnings and Bitcoin 27:31 The Liquidity-Earnings Dynamic 28:06 Token Value Accrual and Hyperliquid 32:23 Why Digital Assets Track Broader Markets Now 34:31 AI and Capital Flows From Crypto 39:45 Bitcoin and the Safe-Haven Question — On Market Cap we speak with firms and individuals to explore the thinking that guides them, the patterns they observe, and other forces moving the markets. Watch the video version: https://x.com/AleaResearch/status/2095523344426680807

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  Market Cap

  Entropy Advisors, Tom Wan | Why Robinhood Chain Is Growing So Fast

  Aug 19, 202655 min

  On this Market Cap episode, Tom Wan, Head of Data at Entropy Advisors, joins our Director of Institutional Partnerships, Stefano Sanabria. They discuss how proprietary onchain data can power everything from incentive design and treasury management to risk monitoring, and why Entropy’s deeply embedded approach can create an edge for clients. They also explore Robinhood Chain’s rapid growth, its path from memecoin activity toward tokenized assets and institutional users, and how Arbitrum is building diversified revenue streams. Chapters 2:28 From Bank Research To Onchain Data Intelligence 6:50 Why Public Blockchain Data Still Needs Decoding 12:29 Why Crypto Is Moving Toward Private Data 14:24 Data Is The Engine Behind Entropy's Services 16:45 Why Embedded Advisors Are Hard To Replace 25:12 Why Robinhood Chain Has A Distribution Moat 30:12 Robinhood Chain Reaches $1B TVL In Two Months 36:56 Why Memecoins Can Bootstrap A New Chain 44:26 Why Prediction Markets Need Deep Liquidity 47:38 Arbitrum Building Multiple Revenue Streams — On Market Cap we speak with firms and individuals to explore the thinking that guides them, the patterns they observe, and other forces moving the markets. Watch the video version: https://x.com/AleaResearch/status/2090102366901301250

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