Financial advisors are now showing more interest in stablecoins and tokenization than bitcoin, according to Bitwise Chief Investment Officer Matt Hougan, who based the view on meetings with more than 40 advisors this week.
Hougan said he held eight sales calls in a single day, speaking with teams of advisors that highlighted two key themes: financial advisors remain interested in crypto despite the current bear market, but their attention is increasingly shifting beyond bitcoin.
"Their eyes are on stablecoins and tokenization more than bitcoin," Hougan wrote in his latest memo published Wednesday.
The shift comes even as Hougan said he personally finds the current bitcoin price above $60,000 "incredibly attractive" for long-term investors and acknowledges that bitcoin has historically led crypto out of previous bear markets because it is the largest and most established digital asset.
However, Hougan said advisors showed much greater curiosity about crypto's real-world applications, particularly stablecoins and tokenization, which are increasingly being adopted across payments and capital markets.
