Bitwise Research Analyst: Even tokenizing 1%-5% of the traditional securities market could unlock trillions of dollars in value, but early overallocation to a single project carries risks

On July 9th, the Bitwise analyst stated that in a client report on Tuesday evening, Matt Hougan, the Chief Investment Officer of Bitwise, and Ryan Rasmussen, the Research Director, noted that the trend of tokenizing real-world assets like stocks and bonds through blockchain is reaching a crucial inflection point. Matt Hougan said, "I have always held a dual view on tokenization. On one hand, this seems to be an inevitable trend - stock trading is still restricted to weekdays from 9:30 a.m. to 4:00 p.m., which is clearly outdated. But despite seeming inevitable, I often think we may be entering this area too early. Just consider how long it took to transition from floor trading to electronic trading." Although it may still take a decade to achieve full-scale on-chain securities trading, Bitwise believes that the actions of major institutions such as Robinhood and Tradeweb indicate that momentum is gathering. Hougan pointed out that even if only 1%-5% of the traditional securities market is tokenized, it will unlock trillions of dollars in value, far exceeding any other cryptocurrency use case, including Bitcoin. In terms of investment strategy, Hougan and Rasmussen believe that investing in top-tier public chains and infrastructure projects such as Ethereum, Solana, XRP, and Chainlink is the "most obvious" way to participate in this trend. They noted that while Ethereum currently leads in the tokenization field, the competitive landscape is still highly open, and there are risks in over-investing in a single project. "It would be a pity to misjudge the tokenization trend too early and bet on the wrong target." The report suggested supplementing by investing in stocks that may benefit, such as Robinhood, Coinbase, and Circle.