Over the past decade, Wall Street's attitude towards Bitcoin has undergone a dramatic transformation, from initial disdain to full acceptance today. This journey can be roughly divided into four stages:

The period from 2013 to 2015 can be called the mocking phase. At that time, many prominent figures on Wall Street openly belittled Bitcoin, describing it as a scam or a worthless investment. This attitude reflected the general skepticism of the traditional financial community towards this emerging digital asset.

As Bitcoin first broke the $20,000 mark in 2017, Wall Street began to enter a phase of attention. Although there were still widespread doubts, this milestone event undoubtedly caught the attention of the financial community, prompting them to start seriously considering the potential of this digital coin.

The years 2020 to 2021 marked the beginning of the exploratory phase. With the establishment of Grayscale Trust and the launch of futures ETFs, some financial institutions began to cautiously enter the Bitcoin market. This phase showed the initial integration between traditional finance and digital assets.

By 2024, we witnessed Wall Street's full embrace of Bitcoin. Financial giants such as BlackRock and Fidelity have launched Bitcoin spot ETFs, with trading volumes even surpassing that of gold ETFs. This development marks Bitcoin's official status as an important component of asset allocation on Wall Street.

This fundamental shift in attitude not only reflects the maturity of Bitcoin as an asset class but also embodies the acceptance of digitalization and innovation by the entire financial industry. With the regulatory environment gradually clarifying and the market continuously evolving, we may witness more traditional financial institutions actively participating in the digital asset space. This trend will undoubtedly have a profound impact on the global financial landscape.