Eric Peters, CIO of Coinbase Asset Management joins Ryan to chart how crypto matured to today’s institutional market with deep liquidity, ETF rails, and stablecoin clarity.

They unpack why Wall Street is leaning in, why the next wave is digitally native issuance of treasuries, bonds, and equities on Ethereum, and how macro tailwinds (fiscal dominance, Fed–Treasury convergence, AI-driven productivity) intersect with crypto’s reflexivity.

Risks and realities aren’t ignored—over-financialized “treasury companies,” security lapses, and policy whiplash—plus a 12–18 month roadmap of real on-chain use cases as pensions and sovereigns start arriving.

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TIMESTAMPS

0:00 Intro

5:55 Throwback to 2020

9:29 Institutional Infra: Before & After

11:47 Institutional Adoption: Before & After

15:57 TradFi ETF Incentives

19:07 Did Crypto Become Consensus?

22:45 Balancing Conviction & Change of Opinion

28:20 The Story of Money

33:19 Institutional Understanding

37:57 Is Crypto Too Big to be Shut Down?

43:44 Operation Chokepoint Takeaways

49:18 Crypto Regulation 180

56:13 Working with Different Jurisdictions

1:04:05 The Future of Tokenization

1:10:10 Crypto ETFs Aftermath

1:18:32 How High Can Crypto Go?

1:32:23 Treasury Companies

1:38:27 Eric’s Macro Trades

1:44:18 What Could Go Wrong?

1:48:04 Coinbase Asset Management

1:53:34 What’s Next?

1:54:52 Closing

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RESOURCES

Eric Peters

https://www.linkedin.com/in/charlesericpeters/

Coinbase Asset Management

https://www.cbassetmgmt.com/

One River Asset Management
https://www.oneriveram.com/

Last Eric Peters interviews

https://www.youtube.com/watch?v=z8oocKy3IwU

https://www.youtube.com/watch?v=NMPiGjxdH0E

Vitalik’s Interview

https://www.youtube.com/watch?v=rNSnYIjoqOM

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Not financial or tax advice. See our investment disclosures here:

https://www.bankless.com/disclosures⁠

Overtime - Episode #362 (Originally aired 8/28/15)