Still debating whether RWA is a false proposition? Recent actions by ICE, the parent company of the NYSE, have already provided an answer.

It is reported that ICE is building a new trading platform based on blockchain technology, with core goals directly targeting tokenization of stocks and 24/7 trading—simply put, completely transforming the traditional stock market from a 9-to-5 model into a 24-hour nonstop on-chain world.

This is not just a technological iteration. Essentially, it reflects Old Money's heightened desire for liquidity. Imagine when stocks of leading companies like Tesla can settle in seconds and trade anytime, 365 days a year, like crypto assets—capital flow efficiency will undergo a qualitative leap. The pricing power of mainstream cryptocurrencies like $BTC and $ETH as underlying assets or settlement tools will inevitably be reevaluated.

Once, we described the crypto market as a 24-hour trading venue that never closes. Now, turn around, and Wall Street is also going "crypto"—but this time, Old Money is proactively sealing the door, leaving no one to exit.

Is this wave of RWA truly a fusion of traditional finance with the crypto ecosystem, or is it a major capital's dimensionality reduction attack on the market? What are their thoughts?