Bitwise’s Hougan says Q3 charts point to ‘crypto spring’
Bitwise CIO Matt Hougan said Q3 could mark the start of a crypto recovery, citing a 46.4% rise in its large-cap crypto index and $6 billion in US spot Bitcoin ETF inflows. Bitcoin gained 42.3%, Ether 69.1%, and Solana 59.2%; all 10 index constituents rose by double digits, led by Chainlink at 97.6%. Onchain activity also expanded: tokenized equities grew 65.5% to nearly $3.2 billion, and decentralized perpetual futures open interest reached a record near $26 billion. Gains were uneven: crypto-related company shares and the number of public firms holding BTC or ETH fell, while the index remained down 6.2% year to date through September. Bitwise expects regulatory developments to support further growth in tokenization and US participation in perpetual futures.
