#我的2026第一条帖 Entering 2026, the global financial markets are experiencing an unprecedented paradigm shift — Wall Street giants, once cautious or even hostile towards cryptocurrencies, are now making a full-scale push into this emerging sector with a "lightning war" approach. From Morgan Stanley's aggressive moves to Bank of America's clear endorsement, and the entire banking industry falling into "FOMO" (Fear of Missing Out), this capital migration is not a tentative layout but a structural, all-encompassing strategic advance. Cryptocurrencies are shifting from fringe alternative investments to a priority in Wall Street's core business. What underlying logic is driving this transformation? And how will it reshape the future of the financial industry?

I. The Indicator: Wall Street’s “Lightning War” and Strategic Ambitions
In the first week of January 2026, this became a landmark moment for Wall Street’s embrace of cryptocurrencies, with Morgan Stanley undoubtedly serving as the “pioneer” of this change. This century-old investment bank swiftly submitted three major applications to the SEC: launching spot Bitcoin (BTC), Solana (SOL), and Ethereum (ETH) ETFs, all branded under “Morgan Stanley.” This move not only signifies a qualitative change in the strategic position of cryptocurrencies — upgrading from “optional” to “must-have” — but also conceals deeper intentions of “self-production and self-sales.” Previously, Morgan Stanley’s financial advisors could only recommend Bitcoin ETFs from other institutions; now, through its own branded ETFs, it aims to channel the funds of its 19 million wealth management clients into its own product pool, seizing market initiative. Morgan Stanley’s ambitions go far beyond this. Its wealth management head Jedd Finn revealed plans to launch a proprietary digital wallet in the second half of 2026. This layout reveals a grander vision: Morgan Stanley not only wants to be a sales channel for crypto products but also aims to become a builder of infrastructure integrating TradFi and DeFi. Finn stated plainly, “This indicates that the way financial services infrastructure operates is about to change fundamentally.” Morgan Stanley’s aggressive stance is not an isolated case but a microcosm of Wall Street’s collective anxiety and strategic shift:
● Bank of America: officially recommends wealth management clients allocate 1% to 4% of their portfolios to digital assets, and approves Merrill platform advisors to recommend Bitcoin ETFs.
● JPMorgan Chase: despite CEO’s public criticism of Bitcoin, its actions are pragmatic — expanding JPM Coin to new networks like Canton Network, building payment rails for tokenized cash and assets, and evaluating offering crypto spot and derivatives trading to institutional clients.
● Other giants follow suit: Goldman Sachs’ crypto trading division continues deepening, Charles Schwab plans to trade Bitcoin and Ethereum directly, PNC Bank enables seamless crypto trading through partnerships with Cb, Barclays invests in the stablecoin clearing platform Ubyx, entering the digital dollar infrastructure.
Bitwise’s Chief Investment Officer Matt Hougan succinctly captures the essence: “On the surface, it’s institutions gradually accepting cryptocurrencies, but in reality, they are rushing headlong into crypto and treating it as a business priority.”
II. Core Drivers: Capital Floods and Regulatory “Green Lights”
Behind the collective “bet” by Wall Street giants are two core engines driving forcefully:
1. The unstoppable capital influx: in the first two days of 2026, US Bitcoin spot ETF attracted over $1.2 billion, with Bloomberg analyst Eric Balchunas describing its ferocity as “lion-like,” predicting total inflows could reach $150 billion for the year. BlackRock’s iBIT has become one of the fastest-growing ETFs in history. Faced with such enormous client demand and market potential, financial institutions can no longer stand by.
2. Clarification of the regulatory environment: recent guidelines from the Federal Reserve, OCC, and FDIC explicitly permit banks to provide custody and trading services for crypto assets under compliance. The increased clarity in regulation greatly reduces compliance risks for traditional institutions, shifting them from “watching in the shadows” to “actively deploying.”
Political winds also favor this trend: pro-crypto stances from politicians like Trump, and institutions like World Liberty Financial actively applying for banking licenses to support crypto businesses, hint at a future policy environment that may become more friendly.
However, the road ahead is not smooth. Investment banks warn that, despite the strong momentum, comprehensive federal legislation on crypto market structure may be delayed until 2027 due to factors like the 2026 elections. This means that in the short term, the industry must “cross the river by feeling the stones” within the existing regulatory framework.
III. Paradigm Shift: From Margins to Center, Reshaping the Financial Future
Wall Street’s collective shift is not merely about “riding the trend,” but a structural transformation driven by market demand, competition among giants, regulatory approval, and political expectations. Its strategic logic is undergoing a fundamental change:
1. Role transformation: from passive ETF sales to active issuance of proprietary products, and further to building digital wallets and underlying infrastructure. Wall Street’s ambition is clear — to maintain a central position in the blockchain-driven financial revolution.
2. Blurring boundaries: deep integration of TradFi and DeFi accelerates. Morgan Stanley’s digital wallet plans, JPMorgan’s tokenized payment rails, and other initiatives are breaking down barriers between traditional finance and the crypto world, constructing a “one-account” new financial ecosystem.
3. Fortress competition: giants are no longer content with merely sharing a piece of the pie but are building long-term competitive advantages through infrastructure layouts. For example, Barclays’ investment in Ubyx aims at controlling key nodes of the future monetary system.
The significance of this transformation extends far beyond the crypto industry itself: it signals a reorganization of financial power — Wall Street is attempting to incorporate cryptocurrencies into its dominant financial system rather than being overturned by the decentralization wave.
The “crypto-ification” of traditional finance and the “compliance” of cryptocurrencies are mutually propelling, opening a new era of finance.
Conclusion: A New Financial Era Begins, and the Transformation Continues
Early 2026 saw Wall Street giants rushing into the crypto space at full speed, marking the official transition of cryptocurrencies from “marginal revolution” to “mainstream battlefield.” Regulatory green lights, capital floods, and political expectations have paved the way, with Wall Street’s ambition to lead this change rather than passively adapt. From ETFs to digital wallets, from payment rails to infrastructure, the giants’ layouts send a clear signal: the future of finance will be defined by the deep integration of blockchain technology and traditional finance. This paradigm shift has only just begun. In the future, we may witness more traditional financial institutions deeply engaging in crypto trading, custody, and issuance, while the game of regulation and innovation continues. But one thing is certain: Wall Street’s collective “bet” has written a new chapter for the financial industry — cryptocurrencies are no longer “alternative,” but an inseparable part of the future financial system. The new era of finance is accelerating to arrive.