US Structural Shift: Dual Drive of Regulation and Institutional Practice
In 2026, the US internet capital market is undergoing a structural transformation. On the regulatory front, the advancement of the GENIUS Act and joint guidance from the SEC and CFTC have provided a clear framework for the securitization and compliant trading of public blockchain assets. On the institutional front, traditional financial giants such as J.P. Morgan and State Street are conducting real transactions on the Solana blockchain, marking a turning point for public chains moving from experimentation to the mainstream. These initiatives are accelerating the formation of a new capital market built on public blockchains.
Strategic Window for Asian Institutions: Phased Pragmatic Follow-up
For Asian institutions, the current period represents a critical strategic window. Due to varying levels of regulatory maturity across jurisdictions, the article suggests a phased pragmatic approach — actively deploy in regions with mature compliance environments while maintaining observation in uncertain ones. Overall, a pattern is emerging where the US leads and Asia positions itself, and the globalization of public chain capital markets will accelerate significantly.