Financial advisors are changing their pitch, at least according to Bitwise CIO Matt Hougan.
In remarks highlighted by The Block, Hougan said advisors now show more interest in stablecoins and tokenization than in bitcoin. The change matters because advisors tend to move more slowly than retail traders. When they shift, it usually signals that the compliance story feels easier, not that an asset suddenly got safer.
Why stablecoins move first
Stablecoins sit closer to existing finance plumbing than bitcoin does. They are designed to maintain a stable value, which can make them easier to route through payment rails and risk systems that clients already understand. Hougan’s point, as The Block frames it, is less about ideology and more about workflow.
That preference can also reflect advisor constraints. Many advisory operations require clearer custody, transfer, and settlement mechanics than what bitcoin typically offers out of the box. Stablecoins can fit those constraints better, even though they still carry risks, including issuer and liquidity risk.
Tokenization as the permission slip
“Tokenization” is a broad label. In practice, advisors tend to like tokenization when it maps to assets they already know how to evaluate. The Block reports Hougan linking growing advisor interest to both stablecoins and tokenization, which suggests a common thread.
Tokenization can look like a packaging layer. If advisers can treat it as a wrapper around something familiar, they face less resistance internally. Hougan’s comments imply the industry is meeting advisors where they are, not where crypto enthusiasts wish they were.
Bitcoin’s seat at the table shrinks
Hougan’s framing does not say bitcoin stops mattering. It says it takes back seat in advisor attention, at least in the current cycle. That’s a real distinction.
Bitcoin still plays a role in long-term portfolios for some institutions. But The Block’s report indicates that, for advisors right now, stablecoins and tokenization are where the conversations start. That can affect which narratives get operational time, which products get built, and which risks get examined first.
What to watch next
The Block’s report is concise, and it offers one clear signal: the advisor funnel is favoring stablecoins and tokenization over bitcoin.
If that trend continues, regulatory and market developments that change the practical treatment of stablecoins and tokenized assets could shape adoption faster than bitcoin headlines. For readers tracking crypto policy, it’s a reminder that “who talks first” often depends on documentation, custody paths, and settlement mechanics, not just technology.
Bitwise’s CIO did not offer a timeline or specific policy triggers in The Block excerpt. Still, the direction is plain enough. Advisors are looking for assets with fewer friction points in everyday finance workflows, and that preference will steer attention across the market.