Bitcoin loses advisor focus as stablecoins and tokenization rise
Bitwise CIO Matt Hougan says financial advisors are still active in crypto, but calls are shifting away from Bitcoin toward stablecoins and tokenization.
After eight sales calls covering 40+ advisory teams, Hougan said advisors asked more about stablecoins and tokenization than about Bitcoin. He also noted that this change does not mean they quit Bitcoin—rather, the conversation is moving toward practical on-chain use, including payments, markets and real-world assets.
Bitwise’s 2026 Bitwise/VettaFi survey supports the trend: 56% of advisors hold crypto personally, and 42% can buy crypto in client accounts. Hougan highlighted that advisors control over $175 trillion, so their product choices can materially affect future crypto inflows.
Hougan linked the shift to stronger public focus on stablecoins and tokenization versus a weaker “fiat debasement” narrative. He cited broader regulatory and institutional attention, including remarks from SEC Chair Paul Atkins and major firms’ leaders.
He expects any next wave of advisor inflows to first target assets tied to stablecoins and tokenization, naming Ethereum, Solana, Canto/Canton, Chainlink and Avalanche. He also pointed to Hyperliquid and companies including Figure, Circle and Coinbase.
Market context: stablecoin supply and tokenized real-world assets have expanded materially in 2025–2026, reinforcing why advisors may be reallocating from “digital gold” toward “digital dollars.”
Neutral
This is likely neutral for overall market stability, with a mild positive undercurrent for stablecoin/real-assets narratives. The article’s core point is not that advisors leave crypto or dump Bitcoin; it’s that their incremental attention shifts toward stablecoins and tokenization.
**Why neutral (short-term):**
- Bitcoin may face relative underperformance versus stablecoin-linked and tokenized-asset themes if advisor marketing and allocation are reweighted.
- However, the claim explicitly says advisors remain interested despite the bear market, which reduces the probability of a broad risk-off move.
- Similar historical patterns: during periods when crypto’s “payments” or “RWA” utility narrative strengthens, flows tend to diversify rather than cause a single-asset crash. Traders often rebalance within sectors, which can keep total liquidity stable.
**Why not strongly bullish (medium/long-term):**
- The information is directional (survey + meetings) rather than a confirmed stream of new capital with timelines.
- Advisor adoption can take time to translate into measurable inflows, especially if regulations or product approvals lag.
**Trade takeaway:** Expect potential relative strength in ecosystems tied to stablecoins and tokenization (e.g., ETH, SOL, LINK, AVAX) more than a blanket bullish impulse. Watch for announcements from advisory platforms or fund wrappers that indicate actual allocation, not just interest.