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
BlockBeats News, July 9th, Bitwise analyst stated that Bitwise Chief Investment Officer Matt Hougan and Research Director Ryan Rasmussen noted in a client report on Tuesday evening that the trend of tokenizing real-world assets such as stocks and bonds through blockchain is reaching a key inflection point.
Matt Hougan said: "I have always had a dual view on tokenization. On the one hand, this seems to be an inevitable trend—stock trading is still confined to weekdays from 9:30 a.m. to 4:00 p.m., which is clearly outdated.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 look at how long it took to transition from floor trading to electronic trading."
While achieving full-scale on-chain securities trading may still take a decade, Bitwise believes that actions by major institutions such as Robinhood and Tradeweb indicate momentum is building. 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 crypto 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 very open, and there are risks in over-betting on a single project. "It would be regrettable 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.
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