Zach Pandl, head of research at Grayscale, suggests that investors are currently distracted by newer crypto projects. He notes that market participants are focusing on assets like Zcash and Hyperliquid, which have seen price increases of 389% and 100% respectively over the past year.
Pandl argues that this trend causes investors to overlook established smart contract platforms such as Ethereum, Solana, and BNB Chain. According to Grayscale, these networks are better positioned to support the anticipated wave of asset tokenization, which could involve trillions of dollars in on-chain value.
The research head stated that institutional players, particularly from Wall Street, will require platforms with proven track records and deep developer ecosystems to manage tokenized securities and stablecoins. Grayscale maintains that these established networks are essential for a robust crypto portfolio.
Pandl shared these views during an interview at the TOKEN2049 conference in Singapore, published on October 13, 2026. He acknowledged that this perspective is not a consensus among crypto enthusiasts, who often prioritize projects with high short-term revenue generation.
