Investment bank Jefferies: Capital is shifting from speculative assets to tokens driving real applications, don't just focus on BTC.

PANews September 21 news, according to CoinDesk, U.S. investment bank Jefferies pointed out in a recent client Q&A report aimed at large institutional investors that cryptocurrencies are still in the “1996 stage” similar to the early internet boom, with even greater rise potential. Many companies are actively formulating investment strategies and determining how to allocate funds between Tokens, ETFs, digital asset treasury companies (DAT), and publicly listed companies with risk exposure. Jefferies analysts pointed out that overly focusing on Bitcoin prices distracts people from the disruptive potential of blockchain technology across various industries. Their clients have already begun to consider investing in the sector through Exchange-Traded Funds (ETF) and Digital Asset Treasury Management (DAT) companies. The advice they provide echoes the investment strategies of the internet era in 1996: be selective and focus on lasting utility. As capital shifts from speculative assets to tokens that drive real-world applications, significant differentiation is expected to continue. Jefferies suggests analyzing tokens like early-stage tech startups, prioritizing “adoption, development, usage, and use cases,” rather than the fleeting revenue spikes of certain blockchains.