The crypto market is shifting to a new model — Binance Research
According to analysts at Binance Research, despite 2025 ending in a phase of stagnation, a structural shift has taken place in the crypto market. This was driven by the accumulation of major cryptocurrencies by emerging economies and efforts by U.S. authorities to establish a Bitcoin reserve at the legislative level.
“After spot Bitcoin ETFs were approved in the United States in 2024, the market entered a ‘second round’ of adoption. Traditional financial institutions are now involved in the process much more deeply than before. The key evidence of this shift was the filing of S-1 registration statements by Morgan Stanley, which is targeting the launch of its own ETFs for Bitcoin and Solana,” the experts noted.
They believe that such activity by Morgan Stanley puts pressure on competitors Goldman Sachs and J.P. Morgan, which are unlikely to want to remain on the sidelines of the fast-growing crypto asset management segment.
This year, portfolio diversification by companies could become one of the key catalysts for growth in digital assets. Investors are seeking capital allocation options outside traditional corporations, and virtual currencies appear to be a suitable tool for mitigating the effects of inflation and fiat currency depreciation, the analysts concluded.
Earlier, specialists at the U.S. banking holding company JPMorgan said that the stabilization of capital outflows from exchange-traded funds (ETFs) is a signal indicating that the correction in the cryptocurrency market has come to an end.
See also: "U.S. SEC Chair: this week will be pivotal for the crypto industry"
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