Stablecoins, Tokenizaton Are Capturing Advisor Attention: Bitwise

Crypto Insight Summary: Bitwise’s Matt Hougan says it was “pretty hard to engage with advisors on Bitcoin” during recent discussions, who are more interested in stablecoins and tokenization. Advisors to some of the largest financial institutions are taking more of an interest in stablecoins and tokenization than in Bitcoin, which could help pull crypto out of its current slump, said Bitwise investment chief Matt Hougan. Hougan said in a [note](https://experts.bitwiseinvestments.com/cio-memos/what-i-learned-this-week-from-40-financial-advisors) on Wednesday that he recently spoke with more than 40 advisors who were “still interested in crypto” but are “more interested today in stablecoins and tokenization than they are in Bitcoin.” “It was pretty hard to engage with advisors on Bitcoin this week,” he said. “In call after call, they expressed much more curiosity over the real-world applications of crypto that are quickly reshaping everything from capital markets to global payments.” Stablecoins and tokenization have recently captured the interest of Wall Street, as Bitcoin (BTC) has struggled to maintain momentum, trading down almost 30% so far this year to $62,500. Stablecoin issuer Circle saw a buzzy initial public offering in June 2025, with its stock quickly rallying to a peak of $240 from its debut price of $31. It has since struggled amid a wider rout in crypto stocks, closing at just under $79 on Wednesday. “It’s hard to turn on CNBC and not hear someone like SEC Chair Paul Atkins or Goldman Sachs CEO David Solomon or BlackRock CEO Larry Fink talking about stablecoins and tokenization,” Hougan said. “Investors want to be a part of that.” _Matt Hougan, pictured appearing on a podcast in January, says advisors are becoming less interested in Bitcoin. Source:_[_YouTube_](https://www.youtube.com/watch?v=7eSe6dTg-hU) He said interest in the technologies could be what pulls crypto into a bull market, which has historically been triggered by “new product breakthroughs and new types of investors.” _**Related:**_[_**Bitcoin may act as a ‘canary in the coal mine’ as risk-off pressure spreads**_](https://cointelegraph.com/markets/bitcoin-may-act-as-a-canary-in-the-coal-mine-as-risk-off-pressure-spreads-bitwise) The “best hope,” according to Hougan, is that financial advisors and institutional investors make up the new crypto investment class, and their money is likely to flow into stablecoin and tokenization investments. He said Ethereum, Solana, Canton, Chainlink and Avalanche were mentioned during his conversations, along with trading platform Hyperliquid and crypto companies Figure, Circle and Coinbase. Crypto Insight Analysis: Direction: Bullish ETH / Bullish SOL / Bullish LINK / Bullish AVAX / Bullish GT / Neutral BTC Impact: Major Impact Horizon: Mid-term (1-8 weeks) Reasoning: Institutional interest shifting to stablecoins and tokenization could drive adoption and investment in platforms like Ethereum and Solana.