Hepworth: Self-custody Bitcoin unlocks DeFi products unavailable in ETFs
Frank Hepworth · More Millionaires Exist Than There Are Bitcoin to Own · Aug 5, 2025 · at 6:55
Yield School founder Frank Hepworth discusses the advantages of holding Bitcoin in self-custody over holding regulated spot Bitcoin ETFs.
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“You get access to way more financial products. If you hold the Bitcoin yourself, there's Bitcoin defy. You can make yield on it. You can loan it out. You can borrow against it. There's a whole bunch of things you can do with it that you cannot do. If it is just in an ETF, if you're just getting exposure through owning an ETF.”
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“Even though I think we're going to go up to 200 K plus the cycle, you could exit right now and you've still done a five X, but people don't do that.”
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“They're going to be volatile and maybe some of them are not going to work out, but the ones that do work out are going to give you a thousand percent, 2000%, 5000% return. And I get one, two, three or Time frame, which is crazy compared to the traditional mark…”
Hepworth: Custody solutions have solved private key loss and crypto kidnapping risks
“The market has solved the whole private key issue and the kidnapping issue.”
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“We don't recommend moving it out of the crypto sphere. Like we say like you should keep your capital on chain unless you want to buy a house or a car or something. Keep that capital on chain and then move it into products that are going to pay you yield or giv…”