Bitwise Chief Investment Officer Matt Hougan said financial advisors are still interested in crypto, but their focus is moving beyond Bitcoin.
Summary
- Matt Hougan said advisors now discuss stablecoins and tokenization more than Bitcoin in recent calls.
- Bitwise survey data already showed advisors ranking stablecoins and tokenization among the top 2026 themes.
- Ethereum, Solana, Chainlink, Avalanche, Circle and Coinbase may benefit if advisor crypto inflows broaden next.
His view came after eight sales calls with teams representing more than 40 advisors in one day.
Hougan wrote in a June 10 memo that advisors asked more about stablecoins and tokenization than Bitcoin. The shift suggests that professional investors are paying closer attention to crypto uses in payments, markets and real-world assets.
Advisors remain active despite the market pullback
Hougan said the main message from the meetings was that advisors have not left crypto during the bear market. He said new crypto cycles have often needed both new products and new investor groups.
“The fact that they remain interested despite the pullback is good news,” Hougan wrote. He said financial advisors and institutions could become the next investor class to support wider crypto adoption.
Bitwise has tracked this interest for months. Its 2026 Bitwise/VettaFi survey found that 56% of advisors owned crypto personally, while 42% could buy crypto in client accounts. Hougan added that advisors manage more than $175 trillion, making their access and product choices important for future crypto flows.
Stablecoins and tokenization lead the discussion
Hougan said Bitcoin has often led crypto recoveries because it is the largest and most established asset. He also said prices around $60,000 looked attractive for long-term investors.
Still, he said advisors showed more curiosity about practical crypto use. “Their eyes are on stablecoins and tokenization more than bitcoin,” Hougan wrote in the memo.
He linked the shift to weaker interest in the fiat debasement trade and stronger public discussion around on-chain finance. Hougan cited comments from SEC Chair Paul Atkins, Goldman Sachs CEO David Solomon and BlackRock CEO Larry Fink on stablecoins and tokenization. The memo did not say advisors have abandoned Bitcoin. It described a change in conversation.
Broader adoption themes
As previously reported by crypto.news, stablecoins have become a larger part of digital payments. Fiat-backed stablecoin supply crossed $319 billion in April 2026, while adjusted transaction volume reached $10.9 trillion in 2025.
Separately, as crypto.news reported, tokenized real-world assets crossed $29 billion by April 2026. Tokenized U.S. Treasuries grew from $380 million in 2023 to $13.4 billion by April 2026.
Hougan said future advisor inflows may first target assets tied to stablecoins and tokenization. He named Ethereum, Solana, Canton, Chainlink and Avalanche as assets raised during the meetings.
He also pointed to Hyperliquid and companies such as Figure, Circle and Coinbase. According to Hougan, advisors now have a broader view of crypto than they had two years ago.
