The integration of traditional finance and crypto assets has entered the practical implementation stage. DTCC has received a no-action letter from the SEC and plans to start tokenizing stocks, bonds, and other assets on the blockchain from 2026; at the same time, major banks such as Bank of America, JPMorgan Chase, and Citibank are also launching loan products collateralized by Bitcoin.

What does this mean? On one hand, trillions of dollars of traditional assets will gradually migrate to blockchain infrastructure; on the other hand, crypto assets are gaining broader financial recognition and application scenarios. When regulators and traditional financial giants enter the market simultaneously, this has surpassed a mere "positive" phase — it signifies a fundamental shift in the underlying protocols of the entire financial system.

In this wave of change, core assets like $BTC, $ETH, etc., are becoming increasingly stable in their positions, and early projects with strong community consensus in the ecosystem are also attracting institutional investment. This reshaping not only changes the form of assets but also redefines the identity of the crypto world within the entire financial system.