Bitcoin might be moving sideways, but Jordi Visser says there is still faith in the underlying asset, as shown through ETF approvals and the Bitcoin network hashrate hitting new highs. Bitcoin is in an initial product offering (IPO) phase as OG holders rotate out and fresh blood scoops up the tokens, distributing the supply across a broader number of people, macro analyst and Wall Street old hand Jordi Visser says. In a Saturday episode of entrepreneur Anthony Pompliano’s podcast and a post on Substack, Visser said old coins that have been dormant for years are on the move, “Not all at once. Not in panic. But steadily,” and new investors are stepping in, “accumulating on dips.” “In the traditional world, this moment is called an IPO. It’s the moment when early believers cash out, when founders become wealthy, when venture capitalists return money to their limited partners,” he said. Read more
BitMine’s Tom Lee says that Ethereum will eventually flip Bitcoin’s market cap, despite being almost five times smaller currently. Ethereum could eventually surpass Bitcoin’s market share in a similar manner to how US equities overtook gold 54 years ago, when the US abandoned the gold standard, according to BitMine chair Tom Lee. “Ethereum could flip Bitcoin similar to how Wall Street and equities flipped gold post 71,” Lee said in an interview with ARK Invest CEO Cathie Wood on Thursday. Bitcoin’s (BTC) market capitalization is about 4.6 times larger than Ethereum’s, standing at roughly $2.17 trillion compared to $476.33 billion, according to CoinMarketCap. Read more
Grayscale’s spot crypto ETFs bring regulated staking yields to mainstream investors, merging crypto rewards with traditional Wall Street exposure. Grayscale has bridged traditional finance and decentralized crypto by launching the first publicly traded staking investment vehicle. Its staking-enabled ETPs allow investors to earn blockchain rewards without running validator nodes or managing complex technical and custody risks. Grayscale’s Ether and Solana ETPs are the first in the US to combine spot crypto exposure with staking rewards, paying yields through the fund’s NAV or direct payouts. Read more
Bitwise’s Matt Hougan said Solana’s speed and finality make it Wall Street’s top choice for stablecoins and tokenization despite Ethereum’s dominance. Chief investment officer of crypto asset management firm Bitwise, Matt Hougan, thinks Solana will be the Wall Street network of choice for stablecoins and real-world asset tokenization. “I think Solana is the new Wall Street,” said Hougan, speaking with Solana Foundation’s Akshay BD on Oct. 2. He added that the Wall Street audiences consider Bitcoin (BTC) “very ephemeral” and “hard to get their heads around.” They can see what is happening in the stablecoin and tokenization space, and they know that it is going to be “enormously significant,” he said before adding, “Really important people are saying that stablecoins will reinvent payments and tokenization will reinvent stock, bond, commodity, and real estate markets.” Read more
Wall Street capital is flowing into late-stage, IPO-ready crypto firms, signaling new dynamics at play for the incoming altcoin season. Wall Street’s growing interest in late-stage cryptocurrency firms could disrupt the traditional boom-and-bust cycle of digital assets, according to new research. Crypto financial services firm Matrixport said Friday that more than $200 billion worth of crypto companies are preparing initial public offerings (IPOs), which may raise between $30 billion and $45 billion in new capital. Matrixport said investor focus is rotating away from early-stage bets toward scalable, IPO-ready companies positioned for public markets. Read more
Wall Street leans into crypto: E*Trade to add BTC, ETH and SOL, JPMorgan cools on stablecoin risks, and CFTC tests tokenized collateral. Crypto’s integration with traditional finance is accelerating. Major banks are rolling out crypto trading services, expanding stablecoin initiatives and preparing for regulatory shifts that could let tokenized assets serve as collateral in derivatives markets. This week’s Crypto Biz dives into Morgan Stanley’s plan to launch crypto trading via E*Trade, JPMorgan CEO Jamie Dimon’s cautious acknowledgment of stablecoins and the Commodity Futures Trading Commission’s (CFTC) exploration of tokenized collateral. Plus, Strategy’s Michael Saylor dismisses talk of a fading bull market, predicting institutional demand will push Bitcoin higher in Q4. Morgan Stanley’s discount brokerage E*Trade will begin offering cryptocurrency trading in 2026 through a partnership with infrastructure provider Zerohash, marking another sign that major banks are moving into digital assets. Read more