#SEC Chair IPO Reform, Retail Participation Becomes Easier, Where Will the Funds Flow?

SEC Chair promotes IPO reform, lowering the barriers for retail investors.
At the same time, the crypto market has already lowered participation thresholds through ETFs and perpetual contracts.
The retail access thresholds for both markets are being compressed simultaneously.
Will this accelerate the transfer of funds from the traditional IPO market to crypto assets, or will the two markets attract different incremental users?

Old veteran here, I think the probability of accelerated transfer is higher.
The reason is simple: the crypto market offers 24/7 trading, T+0 settlement, optional high leverage, and extremely high liquidity.
Even if the thresholds for traditional IPOs are lowered, they still involve T+1, price limits, lock-up periods, and underwriters taking a cut.
Once retail investors taste crypto, it’s basically impossible to make them queue up for new issues in traditional markets again.

What’s truly interesting is: in the future, a group of “crypto native” retail investors may emerge, who simply won’t touch traditional IPOs.
The two markets are not in competition but are layered—traditional IPOs are reserved for institutions and the middle class, while crypto is for those willing to bear volatility and pursue extreme liquidity.