Seamus Rocca is the CEO of Xapo Bank. In this conversation, we dig into the real-world data behind Bitcoin adoption — why it looks very different from the popular narratives, who is actually using bitcoin, which geographies are driving growth, and how ETFs and corporate treasuries are reshaping demand. He also shares the surprising areas where bitcoin products may take off next.

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Bitwise is one of the largest and fastest-growing crypto asset managers, with more than $15 billion in client assets across an expanding suite of investment solutions—including the world’s largest crypto index fund—plus products spanning Bitcoin, Ethereum, DeFi, and crypto equities. In addition to managing assets, Bitwise helps investors stay informed about the fast-moving crypto market. Every week, CIO Matt Hougan breaks down what’s happening in crypto in five minutes or less. Read the latest at https://experts.bitwiseinvestments.com/cio-memos. Certain Bitwise investment products may be subject to the extreme risks associated with investing in crypto assets. Visit https://bitwiseinvestments.com/disclosures to learn more.

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Timestamps:

• 0:00 — Intro

• 2:04 — Why older people are now adopting bitcoin

• 6:58 — Why bitcoin adoption differs across regions

• 11:02 — What is the Xapo Vault & how does the security work?

• 14:55 — Have Bitcoin ETFs helped or hurt Xapo?

• 17:40 — The overlooked impact of Wences Casares

• 20:15 — Bitcoin treasury companies & new financial engineering

• 23:16 — What Xapo must do to win in 2026

• 26:27 — What’s the next big bitcoin product?