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Bitwise CIO Says There Are Structural Valuation Errors in the Crypto Market

Bitwise CIO Says There Are Structural Valuation Errors in the Crypto Market

AIcoinAIcoin2026/02/25 12:04
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Bitwise Chief Investment Officer Matt Hougan stated that there may be structural mispricing in the crypto asset market, due to investors' "anchoring bias" which keeps them focused on old narratives while overlooking the trend of Wall Street accelerating the deployment of on-chain infrastructure. He mentioned that although the tokenized asset market is currently only about $20 billion, the scale of traditional financial markets suggests significant growth potential. He cited examples such as BlackRock launching a tokenized treasury fund, JPMorgan issuing deposit tokens on the Base network, and Apollo launching a tokenized credit fund, arguing that the current consensus narrative lags behind actual developments, thus providing investors with opportunities for excess returns. He recommends that investors establish broad market exposure to adapt to structural changes in finance.
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