The news is as follows: A leading investment bank has been reported to be researching the provision of encryption asset trading services for institutional clients, covering Spot and derivation, and is currently in the evaluation stage.

Many people's first reaction is confusion. Isn't the leader of this investment bank often critical of Bitcoin? How did they suddenly decide to enter the market?

If you think about it from a different perspective, it becomes clear—this is not a change in attitude, but rather the natural arrival of business that should come.

**Simply put, what happened**

Three key points: First, the target is institutions (large players such as hedge funds, asset management, family offices), not retail investors. Second, if it is really being done, it is definitely not as simple as just trading Spot; it is highly likely a packaged solution of trading + risk control + financing + custody. Third, it has not been launched yet; it is currently evaluating customer needs and regulatory standards.

This kind of news is called a "weather vane" on Wall Street — meaning that this matter is in process.

**Why is it precisely now**

The demand has changed. A few years ago, institutions were still experimenting with encryption, but now it has become a regular configuration. This is a major trend. Additionally, the maturity of the industry is improving, with risk control tools and custody solutions now available. The most crucial point is—if you don't engage, you will be eaten away by competitors in terms of market share.

If a certain investment bank does not follow, the clients will run to other places. This is not a matter of faith, it is a business issue.