Fu Peng said crypto investors are increasingly treating traditional and private-market exposures as complements, not rivals, while SpaceX-linked activity helped lift pre-IPO perpetual futures turnover from about $1 billion in early May.
Bitcoin holders who were once largely confined to crypto markets are increasingly using new access routes to buy S&P 500 ETFs and AI-related funds, signaling a shift in mindset from seeing traditional assets as competition to treating them as complementary allocations. Fu Peng said on X that crypto investors also joined SpaceX IPO-related activity this month through pre-IPO perpetual futures (derivatives with no expiry date) and tokenized stocks (blockchain-based versions of shares). He said trading volume in pre-IPO perpetuals rose from about $1 billion in early May to nearly $22 billion within weeks, underscoring how crypto-native infrastructure is being used to reach public-equity and private-market themes.