Bitwise's Matt Hougan Names Robinhood, Solana, Uniswap And Ethereum As His Tokenization Basket

• Bitwise CIO Matt Hougan has long held a broad basket of Robinhood, Solana, Uniswap, and Ethereum.

• Hougan termed it a probable buy and a 10-year hold on Robinhood.

• Hougan said he was also bullish on Coinbase and is betting on traditional finance firms that fight tokenization.

Investors should spread their bets across a number of firms in the tokenization trade rather than going all-in on one company, said Bitwise Chief Investment Officer Matt Hougan, who pointed to a basket of Robinhood Markets (HOOD), Solana (SOL), Uniswap (UNI) and Ethereum (ETH) that he likes.

In an interview with Paul Barron on Friday, Hougan said the transition to tokenized rails would happen regardless of regulatory scheduling but the details of how it plays out are still too fuzzy to make single-asset positions problematic. He used Solana as an example of a concentrated bet, stating it was probably unwise to put all your chips in one network and stop there, while still listed the same token among the four he wishes to possess.

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Uniswap still had an asset valuation of around $5 billion, Hougan claimed, a valuation that appeared wrong by a factor of 10. The fee burn for the protocol is $120 million to $130 million on a yearly basis, he said, which could be outdated.