# Michael Zhao

> Michael Zhao is a person that researches crypto and product strategy at Grayscale Investments and previously worked in real estate private equity.

- Canonical URL: https://iq.wiki/wiki/michael-zhao
- Categories: People in crypto
- Tags: Advisor, Investor, Researcher, Speaker
- Created: 2026-08-28T15:59:02.820Z
- Last updated: 2026-08-28T16:03:27.617Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**Michael Zhao** is an investment and [crypto](https://iq.wiki/wiki/cryptocurrency) research professional with a background spanning real estate private equity, [digital asset](https://iq.wiki/wiki/digital-assets) research, macroeconomic analysis, and decentralized finance. He is currently a Senior Associate at Grayscale Investments, where he focuses on [crypto](https://iq.wiki/wiki/cryptocurrency) research, including macro, on-chain, and [tokenomics](https://iq.wiki/wiki/tokenomics) analysis, with a particular focus on [Hyperliquid](https://iq.wiki/wiki/hyperliquid) and [DeFi](https://iq.wiki/wiki/defi), and previously worked as an analyst and senior analyst at a real estate private equity fund. [\[5\]](#cite-id-cKT7qAULJBE9H59X) 

## Education

Zhao graduated from Georgetown University with a Bachelor’s in Accounting and Finance in 2019. [\[1\]](#cite-id-o13xmksfsi) 

[YOUTUBE@VID](ChguG8PtbZM)

## Career

Zhao began his career at FCP in 2019 as an Analyst, focusing on real estate private equity and the acquisition and management of multifamily assets across the United States. He was promoted to Senior Analyst at FCP in 2021 and continued working in real estate private equity until joining [Grayscale Investments](https://iq.wiki/wiki/grayscale) in 2022 as a Senior Associate, working in [crypto](https://iq.wiki/wiki/cryptocurrency) research across macroeconomic analysis, on-chain data, and [tokenomics](https://iq.wiki/wiki/tokenomics). His work has included research on individual protocols and [decentralized finance](https://iq.wiki/wiki/defi), with a particular focus on [Hyperliquid](https://iq.wiki/wiki/hyperliquid), as well as leading [Grayscale’s](https://iq.wiki/wiki/grayscale) collaboration with Hyper Holdings Global LP for its [Hyperliquid](https://iq.wiki/wiki/hyperliquid) ETF. [\[1\]](#cite-id-o13xmksfsi)  [\[3\]](#cite-id-i6db4103qa) 

[YOUTUBE@VID](e0iN44Y2FcE)