Crypto Options Unplugged Geopolitics Back In Charge – Fade or Real Risk for Crypto? #95
Jan 22, 2026
JM Mognetti, CEO and co-founder of CoinShares, shares insights on the evolution of the firm from a hedge fund to a major ETF provider in the crypto realm. He discusses the implications of geopolitical tensions on crypto, revealing how regulations vary between Europe and the US. JM highlights the importance of tokenization in revolutionizing traditional assets and offers a strategic outlook on Bitcoin, urging a long-term perspective despite short-term market volatility. His thoughts on market differentiation and institutional shifts provide a fascinating lens on crypto's future.
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Supply Overhang Has Begun To Ease
- Large-holder supply overhang has slowed and ETF inflows resumed, improving demand/supply.
- Glassnode data and 1.4bn ETF flows indicate structural support despite short-term chop.
Maintain And Roll Hedging Strategies
- Keep hedges on during macro/geopolitical uncertainty and roll them as needed.
- Imran and David describe rolling hedges into later months and using risk reversals to manage Bitcoin exposure.
From Hedge Fund To ETF Scale Play
- CoinShares evolved from a crypto hedge fund to a European ETF pioneer to scale access.
- JM Mognetti describes converting a bankrupt vehicle into CoinShares to push crypto into retail retirement accounts.