Gavin Michael, CEO of Bakkt, talks about the resurgence of institutional interest in crypto, potential Bitcoin ETF approval, and the future of real-world asset tokenization. They also discuss risk management, the impact of 'degenerate' crypto on institutional adoption, increasing adoption by institutions like Fidelity and JP Morgan, and the future of tokenization. They explore equities settlement on blockchains, the importance of regulatory clarity, and lightning technology's potential for revolutionizing transactions and content creation.