Bitwise CIO Matt Hougan has said that Solana is uniquely positioned to become the new Wall Street of crypto.
In a recent commentary, he outlined why he believes Solana is poised to take on this role in the crypto space. Notably, Hougan compared Solana’s trajectory to the explosive growth stories of Bitcoin and Ethereum in recent years.
Previous Major Rallies
Highlighting the clear pattern behind major crypto rallies, Hougan noted that Bitcoin’s price surged following the launch of spot Bitcoin ETFs in January 2024.
He explained that massive inflows into Bitcoin ETFs, expanding corporate BTC treasuries, and growing concerns over fiat currency debasement contributed to a threefold increase in Bitcoin’s price.
Hougan pointed out that Ethereum followed a similar pattern. In his view, Ethereum gained momentum in April when ETF inflows began accelerating amid excitement about tokenization.
The launch of Ethereum-focused treasuries, including Tom Lee’s BitMine, further fueled the rally, pushing ETH’s price to triple as well.
Solana to Follow Bitcoin and Ethereum Growth Pattern
Interestingly, Hougan expects Solana to follow the same pattern of growth. He highlighted the imminent launch of multiple exchange-traded funds (ETFs) focused on Solana. In the meantime, optimism is building that the SEC could approve Solana ETFs, including Bitwise’s proposal, as early as next month.
The Bitwise CIO also highlighted Solana’s upcoming Alpenglow upgrade, which aims to achieve transaction finality of 100-150 milliseconds, along with rising interest in tokenization initiatives, as key catalysts that could fuel SOL’s rally.
Adding to this momentum are high-profile advocates such as Dan Morehead of Pantera Capital and Kyle Samani of Multicoin Capital, who are promoting Solana’s role in global finance. Notably, while Morehead led Pantera to invest $1.1 billion in SOL, Samani’s Multicoin Capital collaborated with Galaxy Digital and Jump Crypto to establish a $1.65 billion Solana treasury.
Given that Solana’s market cap is relatively small compared to Bitcoin and Ethereum, Hougan argued that even modest inflows could have an outsized impact on SOL’s price.
Solana’s New Wall Street Ambition
Hougan also noted that Solana is designed to be the blockchain powering the tokenization of mutual funds, bonds, and stocks. He underscored the growing interest among financial leaders in tokenizing traditional assets, citing recent remarks from SEC Chair Paul Atkins.
Despite expecting competition from rival networks like Ethereum in tokenization, Hougan believes Solana is well-suited to “serve the tokenization use case.”
As a result, he described Solana as the new Wall Street in the crypto sector.
Solana or Ethereum?? 🤔
Which crypto is the better investment into 2026?
$15 Billion Bitwise CIO says: pic.twitter.com/4lGahlRZMd
— Altcoin Daily (@AltcoinDaily) September 24, 2025
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