Resurgence of DeFi

We believe the DeFi sector is on the brink of a resurgence in 2025. Over the past two years, DeFi faced strict regulations and the collapse of several major lending platforms, which temporarily stalled growth. However, recent developments provide reasons for optimism and could give DeFi new momentum.

Institutional interest in Ethereum: DeFi largely operates on Ethereum, which is gaining significant traction among institutional players. Banks and other major financial institutions are building their own services on Ethereum, creating new opportunities and fostering confidence.

Looser regulations in the US: With Trump’s return, crypto regulations in the US appear to be easing, potentially giving a boost to DeFi platforms. Trump himself is even involved in a new DeFi project, adding extra visibility to the sector.

We are actively positioning ourselves for these opportunities within our strategies. Uniswap and Lido, both part of our Flagship strategy, are well-placed to benefit directly from these developments. Additionally, we will soon expand our Frontier strategy with three new DeFi positions (AERO, PENDLE, and ONDO) to capitalize on these promising trends.