#SEC chairman IPO reform, retail participation becomes easier, where will the funds flow?

SEC chairman pushes for IPO reform, lowering the threshold for retail investors.
At the same time, the crypto market has already lowered participation barriers 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 I believe the probability of acceleration is higher.
The reason is simple: the crypto market operates 24/7, with T+0 settlement, optional high leverage, and extremely high liquidity.
Even if the threshold for traditional IPOs is lowered, it still involves 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 the traditional market again.

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