CRYPTO 101

Ep. 689 Tokenization & How Institutions are Looking at Altcoins with Superstate's Jim Hiltner

Nov 7, 2025
Jim Hiltner, Chief Business Officer and co-founder of SuperState, shares insights on how tokenization is reshaping finance by linking traditional assets with blockchain. He discusses SuperState’s impressive $1.5 billion AUM and how institutions are slowly adopting these technologies. The conversation dives into macroeconomic factors affecting crypto, the contrasting fate of altcoins versus major assets like Bitcoin, and the advantages of tokenization for self-custody and efficiency in financial markets.
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ANECDOTE

Growth To $1.5B And Opening Bell Launch

  • SuperState grew to about $1.5B AUM across a money market and a carry fund.
  • They also launched Opening Bell to tokenise public company equity for on‑chain use.
INSIGHT

Macro Drives Crypto Divergence

  • Macro uncertainty and Fed signalling drive liquidity and asset flows into risk assets.
  • Crypto's behavior reflects both macro and bottom‑up fundamentals, causing divergent moves versus gold and equities.
INSIGHT

24/7 Markets Amplify Shock Risk

  • Market shocks like tariff headlines hit crypto hardest because those markets trade when TradFi is closed.
  • Leverage in perps amplified the October drawdown and seeded ongoing hesitancy.
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