Bitwise Chief Investment Officer Matt Hougan stated in a memo that financial advisors have not exited the crypto market due to the market correction, but recent conversations have seen increased interest in stablecoins and asset tokenization surpassing that of Bitcoin. This shift indicates that professional investors are directing more attention toward use cases such as payments, on-chain finance, and the tokenization of real-world assets.
Consultants' interest has not waned due to the pullback.
The company said that after communicating with eight sales teams representing more than 40 advisors in a single day, Hougan found that advisors remain interested in crypto assets. According to him, the next wave of crypto expansion will likely require both new products and new investor segments, with financial advisors and institutional capital potentially becoming important sources in the next phase.
Bitwise’s previous 2026 survey also reflected similar trends: 56% of advisors personally hold crypto assets, and 42% can already allocate such products within client accounts. Hougan also noted that advisors manage over $175 trillion in assets, so their product access and allocation preferences will influence subsequent capital flows.
Stablecoins and tokenization have become the new focus.
The company stated that in a memo dated June 10, Hougan wrote that recent advisors have raised more questions about stablecoins and tokenization than about Bitcoin. The memo did not indicate that advisors have abandoned Bitcoin, but rather that the focus of discussions is shifting.
Hougan believes this shift is related to the waning interest in "fiat depreciation trades" and growing market discussion around on-chain finance. He also noted that recent public statements by SEC Chairman Paul Atkins, Goldman Sachs CEO David Solomon, and BlackRock CEO Larry Fink have all addressed stablecoins and tokenization.
Related assets and companies of interest
Hougan stated that if advisor funds next expand their inflows, assets in the crypto market related to stablecoins and tokenization may be the first to benefit. Projects mentioned at the meeting include Ethereum, Solana, Canton, Chainlink, and Avalanche.
He also named Hyperliquid, as well as companies like Figure, Circle, and Coinbase. According to him, financial advisors today have a broader understanding of the crypto industry compared to two years ago and no longer focus solely on Bitcoin.
The scale of stablecoins and RWA continues to grow.
Previously reported by crypto.news, the supply of fiat-backed stablecoins exceeded $3.19 trillion by April 2026, with adjusted trading volume reaching $10.9 trillion in 2025.
According to other reports, the total value of tokenized real-world assets exceeded $29 billion by April 2026. Among these, the tokenized U.S. Treasury market grew from $380 million in 2023 to $13.4 billion.
Additional information: This memo primarily reflects observations from Bitwise’s discussions with its advisory team and does not indicate that the advisory funds have substantially completed their allocation transitions.