Bitwise Asset Management said investing in solana is effectively making two bets: that the stablecoin and tokenization infrastructure market will grow dramatically, and that the Solana blockchain will secure a larger share of that market.
Ethereum remains the dominant player in stablecoin issuance and tokenized assets, with Tron, Solana, and Binance Smart Chain trailing as challengers, the asset manager — whose Solana Staking ETF (BSOL) opened for trade earlier this week — said in a blog post Wednesday.
Together, these networks support a $768 billion market, and Solana’s $107 billion slice, roughly 14%, suggests room to run, wrote Matt Hougan, Bitwise chief investment officer.
Hougan believes that stablecoins and tokenized assets are still in the early innings of transforming global markets. As more payments move to stablecoins and more assets are represented digitally, the blockchains powering that shift could see exponential growth.
While Hougan remains bullish on Ethereum, he highlighted Solana’s strengths in speed, usability, and community-driven innovation.
He noted that Solana is catching up in institutional adoption, pointing to Western Union’s (WU) recent decision to use the blockchain for its stablecoin project as a sign of growing momentum.
If Bitwise’s thesis proves right, Solana could benefit from both a rapidly expanding market and an increasing share of it, a combination that could make it one of the standout stories of the next crypto cycle.
Read more: Solana ETFs Could Draw Over $3B If Bitcoin, Ether ETF Trends Repeat
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