In Vance Spencer's view, the market is completely undercounting the amount of capital that's about to move into the crypto world from institutional investor circles. The co-founder of the $1 billion-plus investment firm Framework Ventures would have a good sense of that trajectory, considering how Framework wrapped up a $100 million fundraise for a new fund in the decentralized finance market.Announced Friday, backers of the new fund include the $40 billion investment firm Hall Capital Partners and unnamed endowments, according to a report by The Wall Street Journal. Spencer joined The Scoop (prior to the raise being made public) to unpack the case for Ethereum, which powers much of the DeFi market, the impact of Dogecoin mania, and institutional adoption of crypto. "The resounding sense that I get is that people are underestimating the amount of capital that's coming off the sidelines by probably 1 to 2 orders of magnitude," Spencer said.Spencer said that Ethereum and Bitcoin are the two cryptos that are "on the menu" for the large investors and are both "nowhere near a top."Still, he added that the story of Ethereum "has a lot more to be told in a world where there is not hyperinflation or there's not all these crazy things happening than [bitcoin's story]."This episode is brought to you by our sponsors Bakkt, Kraken, and ExodusBakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more informationAbout KrakenWhether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.About ExodusExodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control. Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go.