Written at the beginning: We are witnessing a turning point in an era

By 2026, many crypto projects have been disproven by the market. Numerous tokens have gone to zero upon launch, crashing immediately, and have almost become tools for the manipulators to harvest profits, while the grand narrative of web3 envisioned in the past seems to be long overdue.

On the other hand, the U.S. stock market is vibrant and flourishing. Under the narrative of advanced productivity of AI, the U.S. stock market continually breaks new highs.

In this context, if the Crypto industry remains stuck in the stagnant market of "in-house mutual harvesting (PvP)," or engages only in meme battles, the path will only become narrower. Thus, we see many exchanges starting to collectively promote U.S. stocks. We at BIT had already implemented the "stablecoin funding channel + licensed broker framework + real U.S. stock holdings" path back in February 2026.

When you raise the perspective, you will find that this is actually the biggest structural shift in the Crypto industry in 2026: The Crypto industry is transitioning from "internal competition" (exchanges competing for users, trading volume, narratives) to "external integration" (Crypto funds entering the core assets of TradFi).

1. Why is 2026 the "watershed year" for Crypto?

First, let’s talk about a set of data that has left a deep impression on us.

According to the latest data from DefiLlama (as of June 5, 2026), the total market value of stablecoins has reached an all-time high of about $320 billion; according to CoinDesk, this figure exceeds the foreign exchange reserves of 95 countries, including the UK and Canada.

What does this mean? It indicates that the "cash pool" of the Crypto industry has grown so large that it cannot be described as a "niche market." Ironically, this massive cash pool has had very limited types of assets available for purchase in recent years—mainly BTC, ETH, various Altcoins, memes, and derivative contracts.

Meanwhile, the returns on endogenous assets are visibly decreasing. According to CoinGecko's "RWA Report 2026," RWA Perps (real-world asset perpetual contracts) have become another tool for trading TradFi assets, with a trading volume of $524.79 billion in Q1 2026 alone, far exceeding the total of $313.02 billion in 2025. At the same time, the spot trading volume of tokenized gold reached $90.7 billion in Q1 2026, surpassing the total of $84.6 billion in 2025.

These two sets of data reveal a crucial fact: Crypto users' funds are migrating to TradFi core assets at an unprecedented speed.

In recent years, innovation in on-chain assets has gradually fallen into a "mutual harvesting" trap. When endogenous high-risk assets can no longer provide healthy alpha sustainably, users' risk preferences begin to diverge, leading to a natural surge in demand for allocations to traditional macro assets (such as U.S. tech stocks, gold, and other commodities).

2026 is a watershed year because this "allocation demand" is being satisfied on a large scale at the product level for the first time.

2. The collective push for U.S. Stocks by Exchanges is essentially Crypto competing for "TradFi entry"

Currently, many exchanges are concentrating efforts to promote U.S. stocks, with varied paths but a highly consistent direction: turning U.S. stocks into the "asset export" for Crypto users.

Why is this important? Because it breaks a market convention that has persisted for over a decade—that Crypto and TradFi are two completely disconnected pools of funds.

Previously, if one wanted to engage in macro hedging, they had to buy gold/U.S. stocks from traditional brokerages and then open contracts on crypto exchanges. The entire process involved bank deposits, opening brokerage accounts, cross-market settlements, and exchange rate losses, resulting in extremely low fund utilization.

Now, the trend is breaking this isolation. The tokenized U.S. stocks or spots you hold are not only assets, but may also have hedging functionalities between them. This significantly increases the utilization of funds.

Additionally, in BIT's user surveys, a considerable number of stablecoin holders expressed a strong interest in allocating to U.S. tech stocks or gold ETFs. These users do not dislike Crypto; rather, they are mature enough to understand the importance of allocating a portion of their funds to low-risk, high-certainty assets beyond high-risk assets.

To meet this investment demand from users, BIT has chosen the path that is the "heaviest and most challenging" section of this industry chain: not issuing a token to map prices, but directly connecting stablecoin funding channels to licensed U.S. broker-dealers to enable users to buy real U.S. listed stocks. This path means we need to handle a full set of traditional securities infrastructure, including securities custody, clearing, dividends, voting, corporate actions, and compliance frameworks.

Why did we choose this more difficult route? Because we believe: as the industry shifts from "trading prices" to "allocating assets," what ultimately remains is not who has the flashiest K-line, but who can truly enable users to hold assets.

3. From "PvP internal war" to "cross-market allocation": a paradigmatic shift in Crypto narratives

If you compare the past three years with the present, you will find that the narrative paradigm of the Crypto industry is undergoing a qualitative change.

The main theme from 2023 to 2025: PvP internal war

- Exchanges competing for token launches, Launchpads, and user growth

- Projects competing for TVL, airdrop expectations, and KOLs

- Users competing for "internal information advantages," "low buying high selling," and the first-mover advantage in narratives

The main theme starting in 2026: cross-market asset allocation

- Exchanges beginning to integrate U.S. stocks, gold, and ETFs into Crypto funding channels

- Projects starting to create RWA protocols (referencing Ondo Global Markets launching over 100 tokenized U.S. stocks and ETFs in early 2026)

- Users starting to allocate U.S. tech stocks, tokenized gold, and stablecoin savings with direct configurations

What is the underlying logic of this paradigmatic shift?

It is the upgrading of Crypto users' asset allocation needs.

In the past, the profile of Crypto users was straightforward: high-risk preference, pursuit of short-term windfall profits, immune to volatility. But when the stablecoin cash pool reaches this magnitude of $320 billion, the nature of the funds within has changed—part of it is institutional money, and part is "long-term settlement funds" of high-net-worth users, whose tolerance for single high-volatility assets is decreasing, while their maturity in asset allocation is increasing.

When a user holds 100,000 USDT, they will no longer think about going all in on a certain meme like in 2021. They will think: can they allocate 30,000 to BTC, 20,000 to ETH, 30,000 to U.S. tech stocks, 10,000 to tokenized gold, and reserve the last 10,000 for high beta Alts?

This reflects the true mindset of Crypto users in 2026.

4. The price of buying NVIDIA and holding NVIDIA stock are not the same

Crypto assets are often priced based on consensus, liquidity, narratives, and on-chain mechanisms; while U.S. stocks are the cornerstone of traditional finance, backed by cash flow, profits, shareholder equity, corporate governance, and regulatory systems of listed companies.

Tokenized stocks are designed to track the performance of publicly traded stock markets via on-chain tokens; they provide economic exposure (including price volatility and, in many cases, equivalent distributions of dividends), but do not grant direct ownership of shares or voting rights.

This is a very important distinction:

This does not mean that tokenized stocks are inferior; rather, it addresses the question of whether "can we trade U.S. stock prices."

However, when your capital grows, and you start viewing U.S. stocks as a long-term asset allocation rather than short-term speculation, the issues shift to: Am I actually buying stocks? Who is the underlying broker? If issues arise with the platform, how do I confirm my stock rights?

This is the fundamental reason behind BIT's insistence on pursuing the "real U.S. stock" path during this phase of industry transition.

5. BIT’s Position in this Trend: A Pioneer in Integrating Stablecoins with Real U.S. Stocks

As early as February 2026, BIT was the first to successfully implement the "stablecoin access to real U.S. stocks" path. This path includes: a stablecoin funding channel: users can deposit and withdraw USDT/USDC nearly in real-time 24/7; direct connection to licensed U.S. broker-dealers; support for thousands of mainstream U.S. stocks and ETFs, with shareholder rights (dividends, voting, corporate actions) applicable in relevant cases. BIT is not merely adding functionality to "be able to buy U.S. stocks," but is building a financial infrastructure that enables the compliant entry of digital asset funds into the real securities asset system. While other industry players still compete over "who has more tokenized stocks" or "who has higher leverage on stock perps," BIT has been four months ahead of its peers in establishing a real asset path.

6. Three Standards for Crypto Users in 2026

As we write this, we want to provide all Crypto users reading this article with three practical standards for judgment.

Standard One: Look at the nature of your funds and determine your allocation strategy

If the USDT you hold is for short-term trading, seeking high turnover and high beta, then stock perps and tokenized stocks can completely meet that demand; but if it is medium-to-long-term settled funds and you wish to undertake genuine cross-market allocation, you should explore products with real holdings paths.

Standard Two: Examine the "depth of disclosure" of the product to assess the authenticity of the path

Before buying U.S. stocks, ask: Who is the underlying broker? Where is it custodied? What is the clearing path? Is there disclosure of licensed entities? Is there a public compliance framework? With the current size of the stablecoin cash pool, users' demands for transparency in asset paths will only increase.

Standard Three: Treat asset allocation as "portfolio management," not "one-sided bets"

Crypto users in 2026 should not be pondering "will BTC rise," but rather "how does my combination of BTC, ETH, U.S. tech stocks, tokenized gold, and stablecoin investments perform under different macro contexts?" This reflects a mature mindset towards asset allocation and signifies the Crypto industry's transition from adolescence to maturity.

7. Conclusion: The biggest opportunity for the Crypto industry in the next five years lies in "breaking out"

The biggest trend in the Crypto industry in 2026 is not about any new public chain, nor a new meme, nor a certain ETF approval, but rather the first large-scale and systematic entry of Crypto funds into the core asset system of TradFi.

The essence of this trend is the evolution of the Crypto industry from a stagnant game of "playing with itself" to an incremental game of "connecting with global capital markets." It indicates that the Crypto industry no longer needs to rely on "mutual harvesting" to create liquidity but can generate value through "connecting with the real economy."

In this trend, BIT's role is as a pioneer in the model of integrating stablecoins with real U.S. stock assets. We do not compete with exchanges over "who can better trade U.S. stock prices," our goal is to provide users a genuine path to enter the securities asset system as their capital grows, their risk preferences upgrade, and their allocation needs mature.

From "internal war" to "integration," from "PvP" to "cross-market allocation," from "trading prices" to "holding assets"—this is the most memorable turning point in the Crypto industry in 2026.

And we will continue to forge ahead on this path.

Data Sources and References

DefiLlama: June 5, 2026, source:https://defillama.com/stablecoins

CoinGecko RWA Report 2026: Includes key data on tokenized RWA, tokenized stocks, tokenized commodities, RWA Perps, etc. Source:https://www.coingecko.com/research/publications/rwa-report-2026

CoinDesk stablecoin market report: May 26, 2026, total market value of stablecoins reaches $32.2 billion, exceeding the foreign exchange reserves of 95 countries. Source:https://www.coindesk.com/markets/2026/05/26/at-usd318-billion-the-stablecoin-market-value-exceeds-the-fx-reserves-of-95-nations

Disclaimer

The content of this article is for reference only and does not constitute any investment advice or offer. The views expressed by the guests mentioned do not represent the official position. Financial assets carry high volatility risks, and past performance does not guarantee future results. The scope of services provided by BIT may vary depending on regional regulatory requirements.

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