Epic signal! Wall Street giants collectively turn around, 13 trillion buyback market on-chain, is the “new bull” of $BTC $ETH coming?

Friend, sit tight, today I’ll share a piece of news you would never normally hear.

The smartest old foxes on Wall Street are working on a major project. It’s not trading $BTC, nor launching NFTs, but quietly moving the $13 trillion repurchase market onto the blockchain. How big is this number? It’s several times larger than the peak market cap of the entire crypto market.

JPMorgan Chase has spent hundreds of millions of dollars over ten years developing blockchain, previously always “big talk but little action.” But this time is different — they’ve truly operationalized their repurchase business.

What is a repurchase? Simply put, institutions use government bonds as collateral, borrow cash overnight, and return the money the next day to get back their bonds. The entire financial system’s liquidity turnover depends on this. Traditional methods have fixed operating hours, stop at night and on weekends, high intermediary fees, and cross-border transactions are a nightmare.

Now JPMorgan uses blockchain for repurchases, enabling 24/7 trading, with funds and collateral on-chain with one click, and instant settlement. Their global digital markets head Eddie Wen said: “Using this for repurchases, the logic is completely sound.”

Six years ago, they launched this on-chain product, and to date, has processed about $3 trillion in transactions. Currently, the platform handles daily client repurchase financing of several hundred million dollars, with JPMorgan’s internal cross-department daily trading around $5 billion. Although small compared to the market’s daily trading volume of hundreds of billions, the trend has already shifted.

It’s not just JPMorgan. HSBC, DRW Holdings, Virtu Financial, Broadridge, Tradeweb… all are betting on tokenized repurchase agreements. Major blockchain platforms now see daily tokenized repurchase trading volumes reaching hundreds of billions of dollars. Tradeweb’s market structure chief Elisabeth Kirby straightforwardly said: “This is not a proof of concept or a sidelined pilot, but a real growth track.”

Why the sudden explosion now? Market analysis points out that blockchain networks are moving from testing to real deployment, with regulators showing a more relaxed attitude — the Federal Reserve sees the stability value of on-chain repos amid market turbulence, and friendly policies from the Trump era also helped. More importantly, clients are finally seeing the benefits: blockchain is no longer just a toy for crypto circles, but a foundational financial infrastructure that reduces costs and boosts efficiency. Digital Asset Holdings CEO Yuval Rooz said: “The industry is no longer debating whether the technology works, but focusing on how quickly it can scale and be implemented.”

Canton Network — a blockchain infrastructure backed by giants like JPMorgan, Goldman Sachs, DRW, Castle Securities, Virtu, and others — completed a cross-border repo transaction collateralized by tokenized UK government bonds in February. Bloomberg also integrated data into Canton Network, serving tokenized US Treasuries and on-chain repos.

You might ask: what does this have to do with retail investors? Quite a lot. When Wall Street’s core capital flow methods start using blockchain, it signals that traditional assets are moving toward 24/7 trading. Nasdaq has announced plans for around-the-clock trading, and the NYSE is developing a tokenized continuous trading platform. DRW founder Don Wilson said plainly: “If the future market moves toward 24/7 trading, the ability to lend cash anytime is essential, and on-chain repos are the core infrastructure supporting this transformation.”

In other words, the 24-hour trading model of $BTC and $ETH is being “reversed” and extended into traditional finance. Once institutions get used to on-chain efficiency, they’ll be more willing to embrace digital assets, even tokenize government bonds and stocks. This could be the “engine” of a new bull market, rather than just speculation.

Of course, challenges remain. The industry has multiple incompatible on-chain systems, requiring institutions to adapt to various platforms. On-chain systems haven’t yet undergone extreme market stress tests; code is rules, with no room for flexibility. Franklin D. Dutton’s Sandy Kaul said: “Traditional businesses have buffers and flexibility, but on-chain systems have no room for error, and no way to negotiate for a few extra minutes.”

But these are implementation issues, not reasons to retreat. Blockchain entering the repo market has just begun.

For your holdings of $BTC and $ETH, this could be the most solid long-term positive — not hype, not charting, but genuine Wall Street “infrastructure-level” acceptance.

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