Stablecoins' Role and Yield Constraints

💡As crypto, equities, and liquidity move through different cycles, it helps to understand your positioning. Get a free portfolio review with Wealthion’s endorsed financial advisors: https://bit.ly/4s7lLPI

Steven McClurg, CEO of Canary Capital, joins CoinFund President Chris Perkins to break down what’s actually driving crypto markets beneath the headlines. He explains why crypto ETFs are gaining traction even as Bitcoin and altcoins struggle, and why futures markets, basis trades, and market structure matter more than sentiment or politics.

McClurg shares a contrarian view on the four-year Bitcoin cycle, arguing that the peak may already be behind us, with miner capitulation and liquidity pressures weighing on prices. The conversation also explores why price weakness doesn’t necessarily signal slowing innovation, how stablecoins fit into the broader macro picture, and what investors should be watching as markets move into the next phase of the cycle.

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Chapters:

1:02 - Building the Next Generation of Crypto ETFs at Canary Capital

4:42 - Crypto ETFs as a Gateway: Making Digital Assets Easy to Access

6:32 - Who’s Really Buying Crypto ETFs Right Now?

7:19 - The ETF Filter: Which Crypto Assets Make the Cut

9:12 - First-Mover Advantage: Does Being Early Still Matter?

10:13 - From Simple ETFs to Smarter Crypto Products

12:22 - The Futures Question: What Unlocks the Next ETF Wave?

16:49 - If the Setup Is Bullish, Why Is Bitcoin Stalling?

18:56 - What Changes the Trend and Reignites the Cycle

21:26 - Ethereum’s Comeback: Smart Contracts and Real Adoption

24:11 - ⭐️Wealthion Golden Nugget: Looking Ahead to 2026 - Fed Policy, Liquidity, and Tailwinds

28:57 - Stablecoins Explained: The Quiet Force Reshaping Finance

33:32 - Internet Capital Markets: On-Chain Equities and the Future of ETFs

36:38 - Spot, ETFs, and Strategies: How Crypto Investing Evolves

41:10 - The Big Crypto Predictions for 2026

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IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.

While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.

We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.

The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.

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