Are institutions suddenly no longer chasing BTC? The true targets on Wall Street may have already changed

A recent obvious shift: more and more institutions are reducing their "single bets on BTC."
Some are buying ETH ETFs, some are researching RWA, and others are reconfiguring on-chain infrastructure.
Why?
Because Bitcoin is increasingly resembling the "standard answer."
The problem with the standard answer is—everyone knows it.
When everyone knows BTC is safe, stable, and institutionally approved, its excess return potential will gradually decline. So capital begins to look for the next highly elastic asset.
ETH is the most obvious target.
ETF funds are rebounding, the ecosystem is recovering, and Layer 2 continues to expand, bringing ETH back into institutional view.
There’s also RWA.
Wall Street is now increasingly fond of the story of "bringing real assets on-chain." Because compared to MEME tokens and air coins, RWA is easier to get regulatory approval for and more attractive to traditional funds.
What does this mean?
The crypto world is entering the "institutional era."
In the past, the market was driven by retail sentiment; now, more and more price fluctuations come from asset allocation logic.
So the most dangerous mindset in the future is still using the methods from the last bull market.
A MEME token that once multiplied a hundred times might now be replaced by a "slow bull structural market."
Of course, this doesn’t mean the myth of getting rich quick is over.
It’s just that the way to make money is changing.
In the past, it was about gambling with courage; now, it’s about gambling with knowledge. #Gate广场五月交易分享