Grayscale warns investors may overlook Ethereum and Solana in crypto cycle

Crypto has a short attention span. Grayscale’s head of research thinks that could cost investors. Zach Pandl cautioned that market participants may be overlooking Ethereum, Solana and BNB Chain. Meanwhile, newer narratives around assets like Zcash and Hyperliquid are soaking up the spotlight. His argument: the established smart contract platforms are positioned to anchor a coming tokenization wave. That wave could involve trillions in on-chain assets. What Pandl actually said Pandl made the remarks in an interview at the TOKEN2049 conference in Singapore. The comments were published on October 13, 2026. His core point was about distraction. Privacy features and perpetual futures platforms are captivating a lot of investors right now. Pandl doesn’t dispute the excitement. He just thinks it risks pulling focus from the infrastructure Wall Street will need. Pandl tied this to an expected tokenization boom. Tokenization means representing real-world financial assets as tokens on a blockchain. He pointed to three categories in particular: Stablecoins, the dollar-pegged tokens already used widely across crypto Tokenized deposits, which put bank deposits on-chain Tokenized securities, suc...