From Opposition to Complementarity
Odaily reported that Fu Peng wrote on X that many Bitcoin holders who had long remained within the digital-asset ecosystem are now, through this channel, trying to allocate to S&P 500 ETFs and artificial-intelligence-related funds for the first time. According to Fu, this trend is shifting the focus of market discussion from “opposition” to “complementarity,” and points to a financial architecture that is more inclusive. He added that BlackRock defines this deep integration across asset classes as the “Great Convergence.”
Fu also said crypto investors have already taken part this month in SpaceX IPO-related activity through pre-IPO perpetual futures and tokenized stocks. These products allow users to speculate on the valuations of private companies before a listed company conducts a public offering, further breaking down the boundary between public and private markets.
On trading activity, Fu said volume in pre-IPO perpetual futures jumped within several weeks from about $1 billion in early May to nearly $22 billion. The figures cited in his post show that the channels through which crypto investors access traditional assets and private-company valuation trades are expanding, while cross-asset products are becoming part of their allocation scope.