Bitwise CIO Matt Hougan says Solana’s speed and efficiency make it ideal for stablecoins and real-world asset tokenization, calling it “the new Wall Street.”
Bitwise predicts Solana will power Wall Street’s tokenization future
Bitwise’s chief investment officer, Matt Hougan, said Solana could become the main platform for asset tokenization and stablecoins in the US financial sector.
“I think Solana is the new Wall Street,” he said during a conversation with Solana Labs’ Akshay Rajan. According to Hougan, traditional financiers have a hard time understanding the nature of Bitcoin, but the market for stablecoins and tokenization is clear and extremely promising.
He noted that key Wall Street players believe that stablecoins will rewrite the payments system, and tokenization will transform the stock, bond and real estate markets. That is why, according to him, Solana, with its high speed, throughput and transaction finality, looks “extremely attractive”.
Solana’s advantage is speed
Hogan gave an example: the speed of final confirmation of transactions on the network has improved from 400 to 150 microseconds, which is in line with the trading style of institutional investors.
However, Ethereum remains the market leader, with $172.5 billion in stablecoins (59% of the market), or 65% together with second-tier solutions — Arbitrum, Base and Polygon.
In contrast, Solana’s share is $13.9 billion, or 4.7% of the market, according to RWA.xyz.
Bitwise bets on Solana
This is not the first time Bitwise has supported Solana. At the Token2049 conference, the company’s CEO Hunter Horsley noted that Solana has an advantage over Ethereum in the ETF space due to its shorter unstaking period, which is important for the liquidity of exchange-traded funds.
Bitwise already offers a physically collateralized Solana ETP fund and is also awaiting the SEC’s decision on a Solana spot ETF, scheduled for October 16.
So far, investor activity has been low, with the fund managing just $30 million in assets, while the SOL token was trading at $227, still 22% below its January 2025 high.
Related: Bitwise: SEC’s simplified process doesn’t guarantee ETF success
