Townsend Lansing

Ex securities lawyer (technically retired so not your lawyer and definitely not giving legal advice). Build tradfi products referencing digital assets.

[Townsend Lansing @TownsendLansing]

@DaleJohnsonBBC How does this error rate compare to previous seasons? Can you link those articles for analysis?

[Bitwise @Bitwise]

Introducing the Bitwise Hyperliquid ETF $BHYP—offering 100% direct exposure to spot HYPE. And the first to use in-house staking, rather than a third-party staking provider.

Starts trading tomorrow.

Why Hyperliquid?
We believe Hyperliquid is one of the most important onchain trading platforms in the world.

When geopolitical conflict broke out in the Middle East on a Sunday morning and traditional markets were closed, institutions didn't wait until Monday. They turned to Hyperliquid.

It's easy to see why. Hyperliquid commands approximately 60% of all onchain perpetual DEX open interest globally (DeFi Llama as of May 13, 2026), processes 200,000 orders per second (Chainspect as of May 13, 2026), and has built a track record of reliability when it matters most. It has achieved remarkable adoption in a short time, entirely without venture capital—and we believe it's poised to be one of the biggest winners as capital markets move onchain.

We're thrilled to give investors a convenient, low-cost* way to participate in that opportunity, with staking rewards built in.**

Onward.

[Bitwise @Bitwise]

Bitwise is continuing to dive deeper into DeFi with our first curator role on @Solana.

We’re proud to partner with @ethena, @jupiterexchange, and @0xFluid to launch this new market centered around USDe.

Capital markets are moving onchain, and we’re excited to help lead the way.

[Bitwise @Bitwise]

BREAKING NEWS

In partnership with @superstateinc, we’re excited to announce the Bitwise Crypto Carry Fund (USCC), our inaugural tokenized fund, and a major step forward in how we serve institutional investors onchain.

The fund will transition from Superstate’s management to Bitwise on June 1, 2026, with Superstate continuing to power the onchain rails.

The quick summary:

What is USCC?
USCC is a tokenized fund with more than $267M AUM (as of April 30, 2026) that seeks to earn yield via the crypto cash-and-carry trade, a strategy to generate yield from the gap between the spot and futures prices for $BTC, $ETH, $XRP, and $SOL.

Why does this matter?
Investors have become more interested in tokenized funds because they have the potential to leverage the unique characteristics of blockchains: 24/7 trading, utility in DeFi, transparency, and efficiency.
I’m an investor. Does anything change for me?
No—there won’t be any impact or disruption to existing investors during the transition period. After the transition, the fund’s name will change from the Superstate Crypto Carry Fund to the Bitwise Crypto Carry Fund, but it will keep the same USCC ticker, smart contracts, and token address. Superstate will continue to operate the onchain infrastructure via their FundOS platform, including tokenized issuance and digital transfer agency services.

I want more information. What can I do?
Send us a message here!

[Townsend Lansing @TownsendLansing]

@dgt10011 Interesting. Do you think there any empirical evidence that this phenomenon (whether distortion of price discovery or actual suppression of price) occurs in other assets that have significsnt ETF AUM (e.g., gold, silver or pgm’s)?

[Townsend Lansing @TownsendLansing]

@lb_southwark @lb_southwark any update on the reopening date?

[Townsend Lansing @TownsendLansing]

@EricBalchunas @kgreifeld Lowest fees in Europe are at 25bps as well

[Townsend Lansing @TownsendLansing]

@EricBalchunas Many (but not all) European jurisdictions ban payments for order flow (and those that don’t often impose restrictions). Is it possible they are simply trying to attract new customers that they will monetise in different ways?

[Townsend Lansing @TownsendLansing]

@EricBalchunas Also, some, not all, governments may be hostile but MICA was a good step and states such ad Germany and Switzerland have proven quite open to digital assets

[Townsend Lansing @TownsendLansing]

@EricBalchunas Relative to the US, yes, but that is not atypical for ETF/ETPs across other asset classes - see gold for example (lot of different reasons for that). Ca. 20bn hardly small.

[Townsend Lansing @TownsendLansing]

@EricBalchunas European AUM at around $12m

[Townsend Lansing @TownsendLansing]

@EricBalchunas There are at least two Litcoin ETPs listed in Europe

[CoinShares @CoinSharesCo]

Is @tezos one the most innovative blockchain yet?
With a unique Liquid Proof of Stake protocol, smart rollups, regular upgrades and speed improvements, XTZ is enjoyed by content creators, especially for NFTs.

Find out its strenghts and weaknesses: https://t.co/rEja77XTTn

[Townsend Lansing @TownsendLansing]

@user_3773 No, that would generally violate the terms of a grantor trust (ie, the trust has no power to vary or manage the trust underlying asset)

[CoinShares @CoinSharesCo]

🚀Exciting update! @CoinSharesCo secures an option to acquire @ValkyrieFunds, uniting our strengths to create a global one-stop-shop in digital asset investments. This marks a strategic leap towards market leadership and bolsters our strong presence in the U.S.!

https://t.co/3AGiJX4nGq

[CoinShares @CoinSharesCo]

After the success of our #Bitcoin Strategy presentation, our Research Team has decided to put the spotlight on #Ethereum.

“How to have an Ethereum Strategy” Presentation & Breakfast
🗓 15 November 2023
🕒 8:00AM CET
📍 Widder Hotel, Zurich

🎟 Register: https://t.co/bNph5SxcqW

[CoinShares @CoinSharesCo]

🏦 What is the @federalreserve's decision regarding interest rates?

📈 How to analyse the massive inflows in digital asset investment products?

🔎 What does our latest fund manager survey reveal?

⏰ Here’s your weekly Market Update in a minute: https://t.co/4NcYsOVUby

[CoinShares @CoinSharesCo]

We would like to thank all our clients and professional investors who attended our #Crypto Lunch & Presentation in Lugano last Tuesday.

Our Research Team enjoyed discussing #Bitcoin's investment cases with you.

Looking forward to the next one!

[Paddy Power @paddypower]

Two thirds of the Earth is covered by water. The rest is covered by Declan Rice.