Matrixport: Crypto funds are flowing into mature IPO companies, with the current pending IPO scale in the crypto assets sector reaching $226 billion.

According to Jinse Finance, Matrixport's daily chart analysis states that the current cryptocurrency cycle is distinctly different from previous ones, with funds shifting from early project bets to mature companies that meet IPO conditions. The performance of alts, venture capital funds, and hedge funds has all lagged behind Bitcoin, reinforcing a “winner takes all” pattern where the strongest participants continue to seize market share. Retail investors largely remain on the sidelines, while institutional capital concentrates on companies that can access the public market and have the capability for scaled operations. On-chain data shows that the continued selling by miners and early holders has nearly offset the inflow of ETFs and treasury funds, which has not only reduced market volatility but also weakened Bitcoin's appeal to risk-seeking investors. However, Wall Street has ample motivation to extend the bull market: the cryptocurrency sector has pending IPOs worth up to $226 billion, expected to raise $30–45 billion in new funds. These IPOs are of moderate size, with a lower number of circulating shares (low float), which may amplify price volatility, making stock allocations a potential profit opportunity.