In New York morning trade, we are looking at at Bitcoin see elevated above 76,000 and this does come after yesterday's volatility in the aftermath of the FOMC rate announcement and Powell's speech.
While there are expectations for near term rate cuts that are cooling short term holders are taking profits and futures positioning has flipped net short while beneath the headline volatility institutional landscape is shifting rapid. and the long awaited clarity Act is winding its way through Congress.
Meanwhile, Wall Street joints like Goldman Sachs and Morgan Stanley continue to mature their wealth distribution channels for crypto.
Well joining me this morning to weigh in here at the New York Stock Exchange is David LaValle, President of CoinDesk Data & Indices.
We have here.
Thank you so much for joining me.
Always great to be here.
How are you?
I'm doing well.
It's been quite the 24 hours across the globe given.
All these central bank announcements as well as what we've been seeing in terms of earnings, but what do you make of what we're seeing in Bitcoin?
Look, the Bitcoin action that we're seeing right now again range bound in this like 70,000 to 75,000 range is something that I think is again back to the institutionalization and where are we in crypto?
I can tell you this fantastic story about where we are in crypto, but it's a little bit more of a shifting landscape from individual token activity.
And actually what's happening with tokenization and also what's happening with the institutional kind of applications of more specifically Bitcoin.
You and I have talked in the past about Morgan Stanley coming online and bringing their ETF to market.
I think it was here a couple of weeks ago and the product was at $60 billion after a few days.
It's over $60 million after a few days.
It's over $200 million now.
We've seen Goldman Sachs come to market with a covered call strategy around.
Bitcoin.
So we're seeing the crypto market as being Bitcoin and adjacent Bitcoin products and then everything else.
Everything else is a little bit more volatile and the conversation is really shifting towards tokenization, tokenization of equities in this building, tokenization of real world assets, tokenization with my parent company Bullish trying to figure out exactly how we're going to tackle this on chain of everything, and that's super exciting.
And speaking of super exciting Dave next week consensus 2026 in Miami.
So Fintech TV we will be live on the ground.
Market movers will be live for May 5th, 6th, and 7th.
So what are you most excited about this year gosh, first of all, we're thrilled to have you there.
It's going to be so exciting to have you on the scene.
I mean we have over 20,000 people that have registered.
We have over 450 speakers.
We have over 400 side events that are happening.
And the thing that I think is most exciting is that we've seen a different complexion of the sponsorship and the booths that are going to be there, and we've seen a real influx of traditional finance, you know, large scale global banks and other traditional finance players that are showing up.
Why?
Because they have to figure out exactly how they're going to tackle tokenization.
They have to figure. how they're going to tackle the reality that everybody has accepted that just like information now moves ubiquitously around the internet, value is going to move ubiquitously around the internet, and that's really just a tokenization story.
So we're thrilled to have the opportunity to kind of engage with the entire marketplace and watch this tradify and crypto markets kind of come together.
Yes, absolutely we're all excited about the upcoming event, but as you mentioned, 2026, we've been keeping an eye on institutional adoption as well as tokenization, ROWAs and stablecoins.
So give us a highlight of some of the main speakers and events that will be taking place on the ground.
Oh my gosh, so there's multiple stages.
The main stage is going to have, you know, firms like Morgan Stanley come up and talk about exactly how they're going to bring Bitcoin into their ecosystem.
On the institutional side but also on their wealth management side, they're going to follow on with Ethereum and Salana products that they have filed for.
This is a conversation about, you know, 17,000 wealth managers, $7 trillion in assets as a part of their wealth management platform, being able to access digital assets in a very familiar product.
Now that's on the wealth management side, but institutionally as an organization they're figuring out how to.
Also be able to handle the trading of the tokens, so we're excited to have banks there.
We're excited to have new projects, new protocols there.
We're excited to talk about AI and agentic solutions and where the cross section of agentic solutions and crypto is.
I mean, it's kind of endless.
There's so much going on.
Well Dave, I look forward to attending consensus and joining having you on the show as well.
Thanks so much.
