According to Bitwise's Chief Investment Officer Matt Hougan, funds tracking a basket of cryptocurrencies are likely to gain popularity next year as investors seek easier access to a broader exposure to digital assets.

Hougan stated in a note on Monday, "Crypto index funds will be a big deal by 2026. The market is becoming more complex, and use cases are multiplying."

He added that while the overall crypto market is expected to grow, it is impossible to predict which tokens will perform well, so holding a fund that tracks the market is a "good starting point," although it "is not suitable for everyone."

Many exchange-traded fund issuers, including Bitwise, offer funds that track multiple cryptocurrencies, inspired by indices like the S&P 500, which tracks the top 500 companies listed on U.S. stock exchanges.

Multi-coin ETFs already exist, some of which launched in the U.S. earlier this year, holding crypto assets based on the market capitalization of each token. However, since they mostly hold Bitcoin— which, according to CoinGecko, currently dominates nearly 60% of the market— their inflows have been relatively modest.

Hougan stated that despite his experience and expert network in the crypto space, he cannot "confidently say which chain will win or how things will unfold."

"At this stage of cryptocurrency development, I think it is unknowable," he added. "The outcome will be determined by regulation, enforcement, macro conditions, the actions of a few key individuals, luck, and a hundred other variables."

"To predict all of this correctly would require supernatural foresight."

The crypto market saw a significant rebound from November 2024 to January during Trump's presidential election and inauguration, maintaining high levels under his pro-crypto policy push.

However, as traditional finance becomes more involved in the market, crypto has also felt the negative impact of broad U.S. tariffs and the drag of uncertainty over further interest rate cuts.

Hougan stated, "Given this uncertainty, my approach is simple: I buy the entire market. Specifically, I buy a market-cap-weighted crypto index fund."

He added that crypto "will be much more important in 10 years than it is today," with the market size potentially growing to 20 times its current size.

Hougan mentioned comments from U.S. Securities and Exchange Commission Chairman Paul Atkins on Wednesday, stating that the U.S. financial system may embrace tokenization in "about two years."

The US equity market is a ~$68 trillion market. We currently have ~$670 million in tokenized stocks. https://t.co/IgyJ20oiar

Hougan stated, "Stablecoins will be more important. Tokenization will be more important. Bitcoin will be more important. And I think there will be a dozen other important use cases that will follow: prediction markets, decentralized finance (DeFi), privacy technology, digital identity."

He added, "I don't want to take the risk of picking the wrong chain. Imagine accurately predicting a market that goes up 100,000x— but still underperforming because you bet on the wrong asset."

Hougan stated, "So I use a crypto index fund as the core of my portfolio because no matter how crypto evolves, I will have exposure to potential winners."

Related: Paradigm: Polymarket trading data was double-counted

Original: “Bitwise CIO: As Market Complexity Grows, Crypto Index Funds Will Be a ‘Big Deal’”

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