Decoding Crypto Indices with Sui Chung

In this episode, we welcome Sui Chung, CEO of CF Benchmarks, as our special guest to unravel the intricacies of crypto index provision and its important impact on the market. Sui offers an enlightening overview of the role of an index provider and delves into the impressive scope of CF Benchmarks, which underpins >$20Bn of assets. He provides insider insights into the anticipated integration of wirehouses, the significant capital influx expected from wirehouses and RIAs, and explores the burgeoning international demand and possibilities for increased investment.Sui also sheds light on the observable shifts in spot volume patterns following the launch of ETFs, setting the stage for an in-depth discussion on the evolving landscape of digital asset investments.Market Update:

• Addressing the recent weaknesses in BTC and ETH.
• The notable strength in SOL and MKR, shedding light on the factors driving their performance.
• Flows in AI-related crypto names
• Implications of funding rate reductions.

Macro Insights:

• Latest expectations for the FOMC, the significance of the dot plot, offering a comprehensive analysis of how global macroeconomic factors are influencing the crypto space.

This episode is a treasure trove for anyone keen on understanding the complex world of crypto indices, the market’s current state, and the macroeconomic elements at play.

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Host: 

• Ben Floyd, Head of Execution Services

Special Guest: 

• Sui Chung, CEO CF Benchmarks

Panelists: 

• David Duong, Head of Institutional Research
• Greg Sutton, Senior CES Trader

Timestamps

00:00 Podcast introduction
02:12 Sui Chung introduction
04:27 What’s the role of CF Benchmarks and why is it significant for investors?
06:50 What challenges have you faced in the space as an Index provider?
11:24 What are the key considerations around bringing Wirehouses onboard?
16:30 Who are the main Wirehouses we should be aware of and what do they do?
19:20 How much capital is involved when we discuss Wirehouses?
23:05 What’s going on with ETFs outside of the US?
27:40 What do you think about the capital pool in HK and China?
30:20 Have you seen any recent changes in spot volumes given the state of the US?
34:50 How are ETFs impacting trading in other instruments?
37:17 How do you think about Indexing in the crypto ecosystem?
42:11 Market update
53:20 Macro
56:52 Conclusion