Matt Murphy, CFA, SVP of Distribution for Grayscale, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss how advisor interest in digital assets is surging, which Grayscale is meeting with educational resources and new investment opportunities.
Murphy notes that advisor interest in digital assets is at an all-time high, with Grayscale counting record numbers of phone calls and meetings with advisors. RIAs and advisors are facing fewer restrictions on digital assets as more platforms now allow clients to invest. Advisors are recognizing that including digital assets in client portfolios may offer a competitive advantage by delivering differentiated outcomes and uncorrelated returns.
Including digital assets in a mean-variance optimization model can result in a recommended allocation of 3% to 5%. Historically, an allocation to bitcoin has improved portfolio returns, while the low correlation of returns to equities has been attractive to investors. Over five years, the correlation between returns of bitcoin and the S&P 500 Index has averaged less than 0.5. Diversification is becoming more difficult to find as the US equity market becomes increasingly concentrated.
Grayscale describes bitcoin as digital gold, which acts as a store of value. A key attraction to bitcoin is its scarcity, as there will never be more than 21 million bitcoins. Both gold and bitcoin are seen as a defense against increasing government debt and the debasement of fiat currencies through inflation.
Solana has a different role than bitcoin, as it is a smart contract platform that can be compared to an operating system such as IOS or Android. Developers continue to build smart contracts that can revolutionize financial services and other industries. The Grayscale Solana Trust ETF (GSOL) holds Solana tokens, which allows investors to earn a staking yield, which is expected to increase the number of tokens owned by over 7% on an annualized basis.
At the beginning of November 2025, the market capitalization of the digital asset industry was $4 trillion, with over half of the value held in bitcoin alone. Each protocol provides different digital services, which are described in Grayscale’s research on crypto sectors. Grayscale believes that education on digital assets helps to build true partnerships with advisors. The Crypto Connect Series schedules in-person events where advisors can learn more about the space from industry experts. The Grayscale team also travels to meet advisors to discuss the digital asset markets.
WEBCAST – Crypto in 2026: Where to Next for Digital Assets?
2025 was a momentous year for the crypto markets, with spot bitcoin ETFs reaching over $150 billion in AUM. Regulatory clarity for stablecoins was provided by the US GENIUS Act, and the SEC provided a standardized framework that eased the process of launching crypto ETPs.
Join Zach Pandl, Head of Research and Inkoo Kang, Senior Vice President, ETFs at Grayscale Investments, for a look forward to what the crypto markets can expect in 2026, including:
- How investors should be thinking about positioning for the next cycle of digital asset growth
- The major themes or catalysts expected to shape the crypto market in 2026
- How advisors and wealth managers are integrating digital assets into portfolios today vs one year ago
- The role that crypto ETPs, especially staking ETPs, are playing in broader crypto adoption
- How changing regulations are affecting the adoption of blockchain technology
Accepted for 1 CFP® / IWI / CFA CE Credit
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