Forward Guidance

A massive opportunity exists in creating perpetual swaps for stocks, which could be a superior product for retail traders compared to complex options. Investors should monitor platforms building in this space, such as Ostium, as they are positioned to capture a multi-billion dollar market. For the Real-World Asset (RWA) tokenization theme, focus on alternative blockchains that offer the flexible governance required by large institutions. These platforms are better suited for institutional adoption than Bitcoin or Ethereum. Consider researching blockchains like Sui (SUI), Stellar (XLM), and Avalanche (AVAX) as potential leaders in attracting institutional RWA activity.

A major investment theme is publicly traded companies that hold Bitcoin, like MicroStrategy (MSTR), which are seen as having significant growth potential. Ensure Bitcoin (BTC) is a core holding in your crypto portfolio, as it has been a key performance driver that many funds missed. Due to macro capital flows, consider favoring traditional equities over most altcoins, which lack a clear path for new investment. FinTech stocks like Robinhood (HOOD) are also seen as a strong investment as they are positioned to capture profitable crypto trading fees. Finally, exercise caution with the upcoming Circle IPO, as it is considered potentially overpriced despite its profitable business model.