Bitwise chief investment officer Matt Hougan said in a recent interview that although the cryptocurrency market is currently in a downturn and many people supporting decentralized finance (DeFi) are moving away from altcoins, Bitwise remains optimistic about tokens related to DeFi. Hougan believes that the DeFi field is currently “severely underestimated”, noting that Layer-1 blockchain projects like Sui and Aptos “completely meet” standards for attracting institutional investors. He mentioned that these projects are led by former Meta stablecoin team members and have "serious teams, serious technology and technological innovations", which are important considerations for Bitwise when choosing funds to hold assets. In addition, Hougan also mentioned that Bitwise has submitted an application to launch the Aptos ETF this month, but he did not disclose whether he has plans to apply for a similar fund for SUI. Nevertheless, he believes the launch of SUI and APT's ETFs in the U.S. may attract new investments into these altcoins.