Jefferies sees crypto IPOs building a $1 trillion public…

Jefferies is projecting a surge of crypto and blockchain-related public listings over the next two years, with the sector potentially growing into a $1 trillion public market within five years. The forecast came out of the bank's first Digital Assets Investor Conference in New York, where executives from 35 digital asset companies met with roughly 150 institutional investors — and the conversation was notably light on bitcoin price talk.

The shift in focus is structural: institutional investors are moving away from speculative trading and toward blockchain as core financial infrastructure. Tokenized money market funds, private credit products and blockchain-based settlement systems are already entering production, accelerated by recent regulatory guidance that reduced legal uncertainty around digital assets.