Gate Research Institute: The Wave of "Wall Streetization" in Crypto Financial Products

Gate Research Institute recently released a report titled "The Wave of 'Wall Streetization' in Crypto Financial Products: Competition or Integration?" The report points out that Bitcoin was born out of a reflection on the traditional financial system, with its core idea being to return the rights of asset issuance, pricing, custody, and distribution from financial institutions back to users through a decentralized network. However, with the rapid development of Bitcoin spot ETFs, institutional custody, RWA, and tokenized government bonds, Wall Street is entering the crypto market at an unprecedented speed and gradually mastering key aspects such as product issuance, asset custody, and fund distribution.

Since the beginning of this year, the crypto industry has begun to actively embrace traditional finance, with crypto exchanges like Gate successively launching real stock trading and incorporating traditional assets such as stocks and ETFs into crypto accounts; traditional brokers like Robinhood are accelerating their layout in crypto assets, promoting a deep integration of stocks and blockchain. Both sides start from completely different points but are moving towards the ultimate goal of a unified financial account.

On the asset level, RWA and on-chain government bonds have become important bridges connecting traditional finance and the crypto world, providing institutional-grade yield assets on-chain and exploring new settlement systems for traditional finance. Wall Street has not conquered crypto, nor has crypto replaced Wall Street; both sides are gradually forming a more unified, efficient, and global new generation of capital markets through mutual integration.