New Report Signals Structural Pivot In Global Crypto Strategy

The crypto landscape is evolving rapidly. Once dominated by individuals, the market is now entering a phase where institutional giants take control. This change is no longer measured in trends, but in S-1 filings, MSCI indexes, and billions reallocated. According to the latest Binance Research report, the ecosystem is undergoing a structural transformation. Crypto no longer operates on the margins of traditional markets; it is now deeply rooted there.

Concrete signals of a scale change in institutional involvement

According to Binance Research, after the approval of spot Bitcoin ETFs in the United States in early 2024, the market has entered a second phase of institutional adoption, characterized not merely by exposure to existing products but by direct involvement of major financial players in creating these products.

The report specifically cites recent S-1 filings by Morgan Stanley, for a Bitcoin ETF as well as for an ETF based on Solana. “Wall Street firms are starting to act as distribution channels, but also as product creators in the crypto asset market”, states Binance Research.

This dynamic reflects a major strategic shift that could alter the competitive balance among financial giants. Here are the key points highlighted in the report :

• Morgan Stanley leads with Bitcoin and Solana ETF projects, marking a first in diversification within cryptos offered by a traditional institution ;

• This early positioning could force Goldman Sachs, JP Morgan, and other legacy players to quickly enter the segment or risk losing a decisive competitive advantage ;

• The current approach shows that institutions no longer just follow the market: they now want to structure and dominate it through tailored products ;

• This involvement goes beyond marketing or experimentation : it fits into a long-term asset management logic, with potentially massive leverage effects on market liquidity and stability.

Binance Research sees this as a strategic tipping point: institutional players are no longer mere spectators or relays but driving forces in the sector’s evolution.

A macroeconomic environment more favorable to cryptos

Beyond banking movements, Binance Research points to a second transformation driver: the macroeconomic context, which is becoming increasingly favorable for integrating cryptos into institutional portfolios.

In 2025, the 10 largest S&P 500 capitalizations accounted for 53 % of the index’s total gains—a concentration many asset managers see as risky. “Diversifying away from a concentrated exposure on large-cap tech stocks could create tailwinds for cryptos,” the report states.

At the same time, another risk has been temporarily removed: the potential removal of crypto treasury companies (DAT) from MSCI indexes, which could have triggered up to $10 billion in forced sales. The report notes that this removal has been suspended, temporarily relieving markets but illustrating the fragility of the still ongoing institutional integration.

If the DATs remain in the indexes, this can provide strategic respite to the concerned companies while maintaining stable exposure to cryptos in some institutional funds.

Facing this institutional rise, the crypto sector seems to be turning the page on an era marked by extreme volatility and the crypto market crash. The ecosystem is now seeking stability in the hands of asset managers, far from the chaotic beginnings of a market in search of legitimacy.