Alex Butler

@CFBenchmarks
Views are my own

[Gabe Selby @gxselby]

Bitcoin isn't an inflation hedge. Inflation is a basket of prices. Debasement is the dilution of the money you hold. $BTC hedges the second, not the first.

Everyone needs to understand this nuance and stop grading a multi-year thesis on a 30-day CPI print.

[CF Benchmarks @CFBenchmarks]

https://t.co/CusDuvV2qT

[Gabe Selby @gxselby]

Our @CFBenchmarks Q2 2026 Market Outlook is live: Conviction in the Crossfire.

The Iran conflict has rewritten the macro playbook. A stagflationary shock has frozen the Fed’s easing cycle, growth is decelerating faster than expected, and Bitcoin’s market cap ratio to gold has fallen 47% below trend.

Beneath the surface, fund flows are rotating, the GENIUS Act and SEC-CFTC joint guidance have created the most constructive U.S. regulatory environment for digital assets ever as we await clarity, and stablecoin supply continues to surge even as speculative markets pulled back.

Conviction always gets tested in drawdowns. Now’s the time to dive into some research and adjust tactically.

https://t.co/t12SlkEIZL

[Gabe Selby @gxselby]

Hashi launches on @SuiNetwork with our CME CF Bitcoin Reference Rate (BRR) embedded directly into its collateral valuation and credit workflows. BRTI for real-time monitoring. BRR, BRRNY, BRRAP for daily fixed reference points. All FCA-regulated. All published on-chain via oracle. The result is a price singularity dynamic equilibrium across the institutional liquidity complex into the full collateral and credit stack.

The gap between TradFi-grade pricing and on-chain credit markets has always been a structural barrier. That barrier is now being removed. Regulated benchmark infrastructure, the same pricing stack underpinning CME Bitcoin futures and spot ETFs, wired into an on-chain credit primitive from day one. @CFBenchmarks

[Gabe Selby @gxselby]

It’s an important nuance that market participants have confidence in fair, transparent, and battle-tested settlement rates of your crypto bets.

With @Kalshi, @CFBenchmarks provides the same reference rates utilized by the majority of leading institutional players.

[John Wang @j0hnwang]

Short-duration markets are extremely sensitive to resolution design.

Kalshi’s crypto price markets are built to be the most resilient, driven by 3 core design differences:
1. A rolling TWAP window rather than a single snapshot, which materially reduces susceptibility to short-term price spikes
2. Reliance on CF Benchmarks, a regulated data source aggregating multiple exchanges with transparent, published methodologies
3. No taker speed bump which disadvantages retail. e.g. Poly has a 500ms order delay

Exchange integrity comes first.

[Matt Hougan @Matt_Hougan]

Just did a meeting at a major wirehouse: They view the pullback as an opportunity, not a threat.

Nearly all of their clients have 0% exposure to crypto today. They want that to be 2%.

Off to another meeting…

[Alex Butler @AlexButler222]

@EricBalchunas Arturo’s on Houston

[CF Benchmarks @CFBenchmarks]

Unlock the latest Newsletter from CF Benchmarks!

Published twice monthly, this digest empowers institutional investors with the knowledge and confidence to navigate the complexities of the digital asset landscape.

https://t.co/MaGkae6KWB

[21shares @21shares]

You asked, we listened.

[Matt Hougan @Matt_Hougan]

Harvard ramped its bitcoin investment in Q3 from $117m ot $443m. It also boosted its gold ETF allocation from $102m to $235m.

Think about that for a second: Harvard decided to put on a debasement trade and it allocated to bitcoin 2-to-1 over gold.

[CF Benchmarks @CFBenchmarks]

Head of @reserveprotocol, @mattimost, describes the Reserve Mission, and breaks down the What, Why and How of Index DTFs.

@TheSquareMile @gxselby @MarkPilipczuk

[Reserve 🌐 @reserveprotocol]

Earn ~18% for depositing $LCAP liquidity on @MorphoLabs

Organic yield from the high borrow demand

Internet capital markets at work 🔽
https://t.co/F10kugcY51

[MEV Capital @MEVCapital]

MEV Capital curates the LCAP Vaults with @ReserveProtocol on @MorphoLabs @Base

Powered by Reserve, LCAP is an Index DTF (Decentralized Token Folio) tracking CF Benchmarks' Large Cap Index, representing ~95% of crypto's market cap excluding stablecoins.

It allows users to lend or borrow LCAP to take directional positions on the crypto market.

Vault links:
🔷 USDC / LCAP
https://t.co/iuUoqcOQgd
🔷 LCAP / USDC
https://t.co/hT6UptLNqU

[REX Shares @REXShares]

We are proud to announce that the REX-Osprey™ XRP ETF, $XRPR has surpassed $100 million in AUM as of 10/23/2025.

$XRPR is the first U.S. ETF to provide investors with spot exposure to $XRP.

For more information on $XRPR click here:
https://t.co/fZMaqJhPfD

[CF Benchmarks @CFBenchmarks]

Large Cap Index DTF ($LCAP), the first fully collateralized token tracking the CF Large Cap (Diversified Weight) – US.

Key Facts:
✅ Captures 95% of the investible universe

✅ Diversified weighting

✅ Quarterly rebalance

✅ Launched 09/24/25

Available on Coinbase & @krakenfx.

[Alex Butler @AlexButler222]

@CryptoCurb Sounds like CZ needs some regulated indices 👀

[Reserve 🌐 @reserveprotocol]

The $LCAP vaults are live 🌐

Get exposure to 95% of crypto’s market cap, earn yield as an LP, and compound it in the vault

If you're long crypto, this is currently the most efficient way to maximize $LCAP LP returns

@AerodromeFi + @beefyfinance 💙

[Gabe Selby @gxselby]

🚨 New CFBTDA Episode: Solana. Staking. ETFs.
We sat down with 21Shares' @Fede_Brokate to talk about what’s next as altcoin ETFs are set to hit Wall Street.

@CFBenchmarks @TheSquareMile @MarkPilipczuk

https://t.co/k4MGCAC6vf

[Reserve 🌐 @reserveprotocol]

DTF News 🌐 $LCAP has been featured in @MessariCrypto 's Pulse Report

The CF Large Cap DTF provides fully collateralized onchain exposure to 95% of crypto market cap and is benchmarked by @CFBenchmarks

Built on @base 🟦 Powered by Reserve