The government reopening may spark a fresh historic run for recently battered cryptocurrencies.

Bitwise's Matt Hougan expects legislation to support new investment products in the space.

"It's going to be ETF Palooza in Cryptoland. I think there'll be 100 plus launches," the firm's chief investment officer told CNBC's "ETF Edge" on Monday. "We're going to see a lot of single asset crypto ETPs [exchange-traded products.] What I'm most excited about, though, is the growth of index based crypto ETPs."

Hougan's prediction comes during a rough week for digital assets . Bitcoin fell below the $90,000 mark for the first time since April. It traded as high as around $126,000 in early last month.

Despite the rough stretch, he sees index ETPs becoming one of next year's biggest crypt

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