# Traditional Finance的所有文章

在 HTX 新聞中心流覽與「Traditional Finance」相關的最新資訊與深度分析。潘蓋市場趨勢、專案動態、技術進展及監管政策，提供權威的加密行業洞察。

The 'Great Divergence' of the Crypto Market in 2026: BTC Bear Market, but BlackRock, Franklin Templeton, and JPMorgan Are Simultaneously Doing One Thing

"2026 Crypto Market 'Great Divergence': BTC Bearish, But BlackRock, Franklin, JPMorgan Are Simultaneously Building Infrastructure." In July 2026, amidst BTC struggling at $62K, seven key events signal a profound shift: the 'Great Divergence' between price action and underlying infrastructure development. Franklin Templeton's CIO notes a "big disconnect" between price and fundamentals. Meanwhile, major institutions are advancing real-world blockchain adoption: BlackRock, Goldman Sachs, and JPMorgan join a UK government-backed tokenization taskforce targeting repo and gilts; Hyundai pilotes USDT for cross-border trade settlement; Bolivia considers integrating USDT into its national payment system; and Robinhood's new blockchain sees rapid adoption. This activity represents a quiet infrastructure bull market, driven by institutional strategy and long-term regulatory roadmaps, not short-term crypto price cycles. The core narrative is shifting from speculative price action to foundational utility. Infrastructure development—focused on upgrading traditional finance, enabling real-world payments, and tokenizing assets—is now decoupled from BTC's volatility. Historical parallels (e.g., dot-com bust/AWS birth, 2018 crypto winter/DeFi Summer) show that infrastructure built during downturns often becomes the next cycle's "toll booth." The critical question is no longer "Will BTC drop further?" but "Who will own the tolls when this new infrastructure is complete?" While BTC remains a key liquidity anchor, the valuation logic for crypto's real-world utility is increasingly separate from its most traded asset's price.

marsbit07/15 04:09

The 'Great Divergence' of the Crypto Market in 2026: BTC Bear Market, but BlackRock, Franklin Templeton, and JPMorgan Are Simultaneously Doing One Thing

marsbit07/15 04:09

24/7 Clearing Has Arrived for US Stocks, But Crypto Didn't Get a Ticket In

The U.S. National Securities Clearing Corporation (NSCC), a subsidiary of the Depository Trust & Clearing Corporation (DTCC), has launched 24-hour, five-day-a-week clearing for traditional securities. This move directly undermines a core narrative of the cryptocurrency industry, which has long touted the 24/7 trading capability of digital assets as a key advantage over traditional finance. The DTCC's implementation of near-continuous clearing did not utilize any public blockchain networks, contrary to hopes within the crypto community. Instead, the institution has consistently relied on private, permissioned systems for its projects, such as the Ion settlement platform and a recent U.S. Treasury tokenization initiative on the Canton network. Expectations from supporters of Ethereum, XRP Ledger, and other public chains for DTCC integration have repeatedly failed to materialize. While crypto markets still maintain a minor differentiation by operating on weekends, the DTCC's successful rollout of extensive clearing hours demonstrates traditional finance can evolve its own infrastructure to meet demand for longer trading windows, without involving the public cryptocurrency ecosystem.

marsbit07/01 10:48

24/7 Clearing Has Arrived for US Stocks, But Crypto Didn't Get a Ticket In

marsbit07/01 10:48

24/5 Settlement Is Here for US Stocks, but Cryptocurrency Didn't Get a Ticket

The U.S. National Securities Clearing Corporation (NSCC), a subsidiary of the Depository Trust & Clearing Corporation (DTCC), has announced the implementation of 24-hour clearing operations on weekdays. This move, approved by the SEC and being rolled out in phases, fundamentally challenges a core narrative of the cryptocurrency industry: that digital assets offer a unique advantage with their 7x24 trading availability, unlike traditional markets that close at 4 p.m. The transition to near-continuous clearing for stocks and other traditional assets diminishes this perceived crypto edge. While crypto markets still operate on weekends, the article notes that DTCC could potentially expand to weekend clearing in the future if demand warrants. The development is presented as another instance where DTCC has disappointed crypto enthusiasts. Despite frequent speculation from communities supporting Ethereum, XRP Ledger, and others that DTCC would integrate public blockchains, the clearing giant consistently opts for private, permissioned distributed ledger solutions for its projects, such as its Ion platform and a recent U.S. Treasury tokenization initiative on the Canton network. The article concludes that the successful launch of this traditional finance "always-on" market relied entirely on existing mature infrastructure, with the cryptocurrency industry failing to secure a role or "admission ticket" in its implementation.

Foresight News07/01 10:03

24/5 Settlement Is Here for US Stocks, but Cryptocurrency Didn't Get a Ticket

Foresight News07/01 10:03

BNB Chain Tokenized Stock and Real-World Asset Volume Surpasses $5B Milestone

BNB Chain has reportedly surpassed $5 billion in total trading volume for tokenized stocks and real-world assets (RWAs). This milestone highlights growing demand for 24/7 on-chain access to traditional financial products. The development is significant as it offers a lens to assess whether current crypto market movements are driven by genuine adoption and regulatory progress or by speculation. The article clarifies that tokenized stocks do not confer direct equity ownership or voting rights. For traders, this story emerges amid a search for clearer market direction, with altcoin narratives increasingly judged on fundamentals like usage and compliance. The trend's durability will depend on follow-up data, liquidity response, and whether it evolves from a weekend narrative into sustained market activity.

bitcoinist06/27 19:06

BNB Chain Tokenized Stock and Real-World Asset Volume Surpasses $5B Milestone

bitcoinist06/27 19:06

The Final Piece of Franklin Templeton's Crypto Ambition

Franklin Templeton Completes Crypto Ambition with Acquisition of 250 Digital On June 22, Franklin Templeton announced the acquisition of 250 Digital and established Franklin Crypto, a new division focused on actively managed cryptocurrency strategies for institutional investors. The unit is led by Christopher Perkins and Seth Ginns. This acquisition marks a key piece in Franklin Templeton's multi-year crypto strategy, which began in 2018 with a digital assets team. The firm's crypto product suite now spans three layers: tokenized funds like the blockchain-based money market fund BENJI (~$831M AUM); a series of passive ETFs including Bitcoin (EZBC, ~$368M), Ethereum (EZET), XRP (XRPZ, ~$252M), Solana (SOEZ), and a multi-crypto index fund (EZPZ); and the newly added active management strategies from Franklin Crypto. The company has also expanded its crypto ecosystem through investments in projects like Ethena and Crossmint, and collaborations with blockchains such as Aptos and Sui. With approximately $18B in digital asset AUM and a total firm AUM of ~$1.78T, Franklin Templeton is positioning itself as a comprehensive crypto asset manager for pensions and sovereign wealth funds. In contrast, competitor Fidelity Investments has taken a different path, focusing early on building its own custody and trading infrastructure. Fidelity's Bitcoin ETF (FBTC) holds over $11B, significantly larger than Franklin Templeton's equivalent offering. Both giants' moves underscore the deepening trend of traditional finance entering the crypto space.

Foresight News06/23 10:13

The Final Piece of Franklin Templeton's Crypto Ambition

Foresight News06/23 10:13

The Counterattack of Traditional Finance: Consortium Blockchains Are Quietly Making a Comeback

The Counteroffensive of Traditional Finance: Consortium Blockchains Quietly Revive In June 2026, over a dozen major US banks announced a joint initiative to build a shared tokenized deposit network by early 2027, operated by The Clearing House. This move is a direct response to the erosion of traditional bank deposits by stablecoins, whose transaction volume now dwarfs traditional payment giants. Unlike stablecoins, which move funds outside the banking system, tokenized deposits keep funds within the regulated system while offering crypto-like speed and programmability. This initiative marks a practical revival of the "consortium blockchain" concept, but with a crucial difference: it's now driven by genuine, urgent demand (validated by stablecoins), supportive regulation (like the GENIUS Act), and proven transaction volume on existing institutional chains like Canton Network and JPMorgan's Kinaxis. The distinction between public chains and consortium chains is blurring, as banks like JPMorgan strategically deploy assets across private, permissioned, and public chains. The real competition is no longer about technology but about which infrastructure—traditional finance's regulated networks or crypto-native public chains—becomes the default foundation for the next decade of finance.

marsbit06/10 12:10

The Counterattack of Traditional Finance: Consortium Blockchains Are Quietly Making a Comeback

marsbit06/10 12:10

Tracking Digital Asset Markets Beyond Crypto-Native Venues

Glassnode has expanded its platform with new metrics for tracking digital asset markets beyond crypto-native venues, focusing on US spot ETFs and US Digital Asset Treasury (DAT) companies. These additions allow users to access daily price and trading volume data for relevant ETFs and publicly listed treasury firms tied to specific crypto assets. The DAT metrics enable comparisons between equity behavior and underlying crypto assets, helping identify stocks that act as strong proxies versus those with more idiosyncratic profiles. ETF volume data offers insights into liquidity, participation, and institutional flows, revealing how much trading activity occurs through traditional finance channels compared to crypto-native markets. These tools provide a unified view of digital asset exposure across spot markets, ETFs, and listed vehicles, enhancing analysis for institutional and traditional finance integration.

insights.glassnode06/03 14:05

Gate Officially Launches Real Stock Trading, Bridging the Gap Between Crypto Assets and Traditional Financial Markets

Gate has officially launched real stock trading, allowing users to directly trade stocks and ETFs from major U.S. markets using USDT. This move bridges the gap between crypto assets and traditional finance. Unlike tokenized stocks or RWA mapping, the service provides direct access to real securities via licensed and SIPC-member brokerage partners like Alpaca, ensuring compliance and investor protection. It supports over 10,000 stocks and ETFs from exchanges such as NYSE and Nasdaq. The feature is integrated into the existing Gate app, enabling users with a unified account to seamlessly manage crypto and stock investments. Initially supporting intraday trading, it plans to expand to 24/7 operation. This development positions Gate as a comprehensive multi-asset trading platform, evolving from a crypto exchange into a global financial market infrastructure.

链捕手06/01 03:45

Gate Officially Launches Real Stock Trading, Bridging the Gap Between Crypto Assets and Traditional Financial Markets

链捕手06/01 03:45

Will ETH See Fund Inflows Again? Sharplink and BitMine Make It onto the Russell Index List

Two Ethereum (ETH)-related public companies, Sharplink (SBET) and BitMine (BMNR), will be added to the U.S. Russell Indexes on June 29, 2026. SBET is confirmed for the Russell 2000 and Russell 3000, while BMNR is on the preliminary list for the Russell 3000 and has a high chance of entering the Russell 1000. This inclusion acts as an "automatic shopping list" for massive passive investment funds like ETFs and pension plans, compelling them to buy these stocks to match the index composition. Consequently, millions of mainstream investors who do not directly trade crypto will automatically gain exposure to these Ethereum-linked equities through their index funds. This move channels significant passive capital—trillions of dollars track these indexes—into SBET and BMNR, integrating Ethereum-related investment opportunities into traditional financial portfolios. While the funds buy the companies' stocks, not ETH directly, this is expected to provide short-term price support for the stocks and increase their liquidity and institutional ownership. Over the long term, it could also indirectly incentivize the companies to acquire more ETH.

marsbit05/25 04:28

Will ETH See Fund Inflows Again? Sharplink and BitMine Make It onto the Russell Index List

marsbit05/25 04:28

Bitwise: Why Are Top-Tier Capital Giants Aggressively Betting on New Public Blockchains Like Arc, Canton, and Tempo?

Why Top Institutions Are Betting Big on New Blockchains Like Arc, Canton, and Tempo This week saw a surge of major funding announcements for new, purpose-built blockchains. Circle's Arc raised $222M at a $3B valuation from investors like BlackRock. Canton Network developer Digital Asset secured $300M led by a16z at a $2B valuation. Stripe's Tempo, already a leader, raised $500M last year and has partnered with major firms. These three chains share key traits: they are designed for stablecoins and asset tokenization, they emerged after the US passed the *Genius Act* in July 2025, they natively support private transactions crucial for enterprise adoption, and they are backed by traditional finance and tech giants—unlike the crypto-native origins of Ethereum or Solana. This trend highlights three major shifts: 1) Clear regulation (like the pending *Clarity Act*) is unlocking massive institutional capital. 2) Built-in privacy is becoming a core feature for real-world business use, addressing the limitations of fully transparent ledgers. 3) Established corporations are now directly entering the blockchain arena, bringing significant resources and execution capability, which will accelerate innovation and competition across the entire crypto ecosystem.

marsbit05/13 09:28

Bitwise: Why Are Top-Tier Capital Giants Aggressively Betting on New Public Blockchains Like Arc, Canton, and Tempo?