The crypto market is welcoming a new strategic approach. DWF Labs partner Andrei Grachev directly stated on X that if traditional finance (TradFi) hesitates to engage with Altcoins, Altcoins should proactively break into Wall Street.
"If traditional finance does not enter Altcoins, then Altcoins should enter traditional finance."
He suggested that project teams issue stocks or convertible bonds on Nasdaq, allowing fund managers to first buy stocks and then passively become long-term token holders, thereby bridging the gap between the two sides.
Institutional Funds Have Quietly Positioned in Altcoins
Grachev's remarks are not unfounded. Since the Bitcoin spot ETF was approved in the US earlier this year, more funds have begun evaluating tokens with blockchain ecosystem utility such as Ethereum, Solana (SOL), and Sui.
Although Nasdaq does not directly list tokens, companies like Coinbase (COIN), MARA Holdings (MARA), RIOT Platforms (RIOT), and Core Scientific (CORZ) are traded on the platform. The platform also lists ETFs tracking Bitcoin and ETH prices. More critically, Nasdaq's Crypto US Settlement Price Index (NCIUS) included Cardano, Solana, Stellar Lumens, and XRP in June this year, symbolizing mainstream exchanges' recognition of Altcoins' investability.
High-Risk Speculation: Reverse Listing Model
According to Grachev's framework, project teams first establish a holding company to go public in the US, with part of the raised funds used to purchase or lock up their own tokens, and the holding mechanism disclosed in the prospectus. This "dual-layer capital structure" allows fund managers to enter through a familiar stock format while gaining token appreciation bonuses.
However, this listing approach carries very high risks. To list on the US capital market, project teams must pass strict SEC information disclosure and accounting audits, and token attributes might be defined as securities. Additionally, with Altcoins' extreme price volatility, balancing listed company governance and community self-governance remains a major challenge before regulation.
Despite the significant challenges, Grachev's concept provides an alternative path connecting TradFi and Web3, packaging Altcoins as a "stock + token" hybrid carrier, directly showcasing on Wall Street. For a crypto industry eager to expand further, this might be the next emerging experiment.
