Bitwise Chief Investment Officer Matt Hougan said on Monday that the global cryptocurrency market could expand by 10 to 20 times over the next decade, driven by structural shifts that are moving traditional financial assets onto blockchain rails.
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Speaking about the future of digital assets, Hougan emphasized that the industry is entering a period of accelerated institutional adoption, supported by regulatory progress and the tokenization of real-world assets.
Institutional Capital and Regulatory Shifts Accelerate Growth
Hougan referenced U.S. SEC Chair Gary Gensler’s estimate that as much as USD 68 trillion in traditional assets could eventually migrate onto blockchain-based systems—highlighting the enormous potential for market expansion.
He noted strong capital inflows into Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). Bitwise expects ETF inflows in 2025 to surpass 2024’s record, reinforcing the trend of institutional investors treating crypto as a mainstream asset class.
As more institutions enter the market, financial products tailored for professional investors are becoming more sophisticated. Hougan said broad-market crypto index funds, which address volatility and single-asset risk, are likely to gain traction by 2026.
Regulators in the U.S. are also making progress:
Legislative efforts around stablecoins continue to advance.
The Department of Labor is considering updates that could allow crypto allocations in 401(k) retirement plans.
New ETF applications, including for Ripple (XRP), signal a lowering barrier to entry.
Tokenization of Real-World Assets Gains Momentum
Alongside regulatory developments, Hougan highlighted real-world asset (RWA) tokenization, such as real estate and bonds, as one of the most transformative trends in modern finance.
Major Wall Street institutions are already experimenting with blockchain-based management of tokenized financial products. The sector has surpassed USD 50 billion in circulating tokenized assets, and analysts expect significant growth as tokenization unlocks new forms of liquidity.
Bold Forecasts for Bitcoin and the Crypto Market
Long-term forecasts for Bitcoin remain strongly bullish:
BTC could surpass USD 200,000 in 2025
BTC could reach USD 1 million by 2029
These predictions cite increasing nation-state adoption and the possibility of Coinbase being added to the S&P 500.
Bitwise describes the coming years as the “Golden Age of Crypto,” driven by the fusion of AI and meme coins, pending IPOs of crypto-related companies, and a rapidly maturing global infrastructure.
