Crypto is bleeding into traditional finance faster than anyone expected.

In this episode of Bits + Bips, the hosts dig into Robinhood’s move into tokenized stocks and perps, what’s actually holding back tokenized equities, and why perps might “eat the world.”

Plus, they talk crypto ETFs, altcoin summer, and whether staking in ETFs is the next big unlock.

Sponsors:

• Ram Ahluwalia, CFA, CEO and Founder of Lumida

• Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter

Timestamps

🎬 0:00 Intro

👔 2:25 Tom’s path from Jane Street to crypto

💸 5:50 Why Jito’s yield model works + the importance of market makers

📊 12:47 Whether tokenized U.S. stocks actually solve anything for investors

🌍 31:47 Why Tom says “perps are going to eat the world”

🏦 39:25 How perps could sneak their way into traditional finance

📉 41:43 Whether perps are a better instrument than futures

🧠 50:51 Why James thinks we’re heading into an altcoin ETF summer

📥 56:01 How liquid staking is critical in the context of ETFs with staking

📈 1:05:06 Why the S&P 500 keeps hitting all-time highs

⚠️ 1:07:43 Ram lays out the risks of 1% interest rates

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