CF Benchmarks
CF benchmarks logo

Jan 15, 2025

CFB Talks Digital Assets Episode 35: Market-Making AI Agents and the New Crypto ETF Regime: Welcome to 2025!

Digital assets have a high bar to beat in 2025 after a stonking 2024 - but with a new pro-crypto US administration waiting in the wings, this year promises to be just as consequential.

Markets-wise though, January is off to a less than sure-footed start...

As CF Benchmarks Head of Research Gabe Selby, CFA, and Research Analyst, Mark Pilipczuk point out in our first podcast of 2025, this follows the ’Santa Rally’s no-show in December.

Still, that's after one of the strongest crypto mega cap returns for years. And with alts underperforming overall, catch-up trades could be on the cards.

To learn which ones, and a lot more, join Gabe, Mark, and Head of Content, Ken Odeluga, as they tally up crypto’s seismic 2024, and surface everything to watch going into another critical year.

Top Themes:

  • AI agents: With some already earning above the median US wage, find out how they could soon be market-making, operating cross-chain liquidity, and even doing agent-to-agent transactions. What could possibly go wrong!
  • Ether flows punched above their weight relative to the ETH/BTC ratio into year-end, but Ether AuM still doesn't reflect ETH's share of that pair’s joint market cap. Does December’s $2B ETH inflow mean the catch-up has begun?
  • Regulatory transition: Will we see Solana and XRP ETFs, before we see CFTC-regulated SOL and XRP futures? And which ETF filings have the highest chance of near-term approval?
  • RIA crypto ETF holdings: How to gauge when are research team's call for these to breach 50% of the total is well on the way

All in all, it’s time again to grab your preferred beverage, sit down, and soak up the latest insights from our institutional insiders.

Find us on all the platforms below, or wherever you listen.

Listen on Spotify

Listen on Apple Podcasts

Watch on YouTube (Audio)

Catch all episodes here

Subscribe for updates!


The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.


Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.


Sui Chung
Sui Chung

Sui Chung

More on this subject

Factor Friday - October 30, 2026

Less liquid tokens led CF Benchmarks' factor table as Liquidity gained 1.54% after last week's loss, ending Size's four-week run at the top. Growth fell 2.39% to rank last, while Size, down 0.79% on the week, still leads year to date at 22.76%.

Mark Pilipczuk
Mark Pilipczuk

Mark Pilipczuk

12 mins read
How CF Benchmarks treats a Bitcoin hard fork: the ECX case

Published thresholds, applied to observed trading, decide whether a new coin earns an index of its own or counts as a distribution in multi-asset indices. The eCash (ECX) fork around 31 October is a live test of both.

Mark Pilipczuk
Mark Pilipczuk

Mark Pilipczuk

12 mins read
CF Institutional Digital Asset Index – Update on the Q3 2026 Reconstitution and Rebalance

Further to the announcement of August 28th, 2026, the Administrator announces that the postponed Q3 2026 Reconstitution and Rebalance of the CF Institutional Digital Asset Index (IDAX) will not be implemented. The Q3 2026 Reconstitution and Rebalance is therefore suspended.

CF Benchmarks
CF Benchmarks

CF Benchmarks

1 mins read
More posts...

Footer

Legal

Subscribe to our newsletter

The latest news, articles, and resources, sent to your inbox weekly.

By submitting this form, you agree to our Terms of Service and Privacy Policy.

Already subscribed? Manage your preferences

© 2026 CF Benchmarks Ltd. All rights reserved.

CF Benchmarks Ltd (“CF Benchmarks”), a company registered in England and Wales with company number 11654816 and authorised and regulated by the Financial Conduct Authority. Information about us can be found on the Financial Services Register (register number 847100).

Registered Office: 6th Floor One London Wall, London, United Kingdom, EC2Y 5EB.

You agree not to, and have no rights to, use the CF Benchmarks Data to create, calculate, issue, settle, maintain, support or develop any financial instruments (including but, without limitation exchange traded products, certificates, warrants, contracts for difference, swaps, binary options, structured products), indices, products, services (including but without limitation, portfolio management services, pre- and post-trade risk management services, or valuation services) or any other derivative works without the express written consent of CF Benchmarks.

You agree not to analyze, reverse-engineer or disassemble any CF Benchmarks data and not to insert any code or product to manipulate the Website content in any way that affects any user’s experience. Unless CF Benchmarks gives you prior written permission, use of any Web browsers (other than generally available third-party browsers), engines, scripts, software, spiders, robots, avatars, agents, tools or other devices or mechanisms (such as crawlers, browser plug-ins and add-ons, or other technology) to navigate, access, copy in bulk, retrieve, harvest, index, search or analyse any portion of the Website is strictly prohibited.

No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of CF Benchmarks Ltd. Use and distribution of the CF Benchmarks data requires a license from CF Benchmarks or its authorized licensing agents.

All information is provided for information purposes only. All information and data contained on this website is obtained by CF Benchmarks, from sources believed by it to be accurate and reliable. Such information and data is provided "as is" without warranty of any kind.

CF Benchmarks, nor its directors, officers, employees, partners or licensors make any claim, prediction, warranty or representation whatsoever, expressly or implied, either as to the accuracy, timeliness, completeness or merchantability of any information or of results to be obtained from the use of the CF Benchmarks indices or the fitness or suitability of the same indices for any particular purpose to which they might be put. Any representation of historical data accessible through CF Benchmarks indices is provided for information purposes only and is not a reliable indicator of future performance.

No responsibility or liability can be accepted by CF Benchmarks nor their respective directors, officers, employees, partners or licensors for any loss or damage in whole or in part caused by, resulting from, or relating to any error (negligent or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analysing, editing, transcribing, transmitting, communicating or delivering any such information or data or from use of this website or links to this website.

CF Benchmarks and its respective directors, officers, employees, partners or licensors do not provide investment advice and nothing accessible through CF Benchmarks, should be taken as constituting financial or investment advice or a financial promotion. Charts and graphs are provided for illustrative purposes only. Index returns shown may not represent the results of the actual trading of any assets.

CF Benchmarks is a member of the Crypto Facilities group of companies which is in turn a member of the Payward, Inc. group of companies.
  • Payward, Inc. is the owner and operator of the Kraken Exchange, a venue that facilitates the trading of cryptocurrencies. The Kraken Exchange is a source of input data for certain CF Benchmarks indices.
  • Payward, Inc. is the owner and operator of the Staked, a venue that operates the block production nodes for decentralized PoS protocols on behalf of institutional investors. Staked.us is a source of input data for certain CF Benchmarks indices.

Please refer to the individual product family documentation for more information about applicable input data sources.

By clicking Accept, you consent to CF Benchmarks's use of cookies.

Visit Cookie Settings to learn how CF Benchmarks uses cookies and to adjust your preferences.

Cookie Settings