Bitwise: ICO 2.0 will see a renaissance, with at least six billion-dollar ICOs expected by 2026

On November 12, Matt Hougan, Chief Investment Officer of Bitwise, stated in his latest investment memo article that one of the fundamental arguments for investing in cryptocurrencies is that crypto will reshape the fundamentals of finance. There are already three examples that have really worked: Bitcoin reshaping gold, stablecoins reshaping the dollar, and tokenization reshaping trading and settlement. This week Coinbase announced the launch of a brand new ICO platform, which added a fourth disruptive innovation: capital formation. Despite the drawbacks of the 2017-2018 ICO boom, it proved something: cryptocurrencies can be used to quickly raise funds for new projects. With the new regulatory policy of current SEC Chairperson Paul Atkins and the launch of Coinbase's new ICO platform, ICO 2.0 will be revived. He predicts that by 2026, at least six billion-dollar ICO projects will be seen through platforms such as Coinbase. Over time, more and more projects will lean towards the direct ICO model rather than the traditional IPO model. As for how to invest, he said that the most obvious investment target is Coinbase. Coinbase is not just Charles Schwab in the cryptocurrency space, but Schwab + Goldman Sachs + NYSE +....; In addition, a healthy ICO market will benefit programmable blockchains such as Ethereum and Solana.