Structural Valuation Gaps Emerge in Crypto Market
Matt Hougan, Chief Investment Officer at Bitwise, recently pointed out that crypto assets may currently suffer from structural valuation discrepancies. Many investors remain anchored to traditional narratives, failing to fully recognize Wall Street's rapid advancement in on-chain infrastructure.
On-Chain Assets Hold Tremendous Growth Potential
Although the current tokenized asset market is valued at around $20 billion, the sheer size of traditional financial markets suggests substantial growth potential. As more institutions enter this space, the market structure is expected to evolve significantly.
Industry Cases Reflect Emerging Trends
Several industry cases highlight the increasing adoption of on-chain solutions. For example, BlackRock launched a tokenized treasury fund, JPMorgan introduced deposit tokens on the Base network, and Apollo launched a tokenized credit fund.
Investors Should Prepare for Structural Shifts
Hougan emphasized that current market consensus lags behind real-world developments, creating potential alpha opportunities. He advised investors to build broad market exposure to navigate ongoing structural changes reshaping the financial landscape.