BTC ETF seizes $3.5 billion a month: will tokenized stocks replace Bitcoin?

According to Woofun AI, Kraken's co-CEO Arjun Sisi clearly denied the view that tokenized stocks would replace Bitcoin (BTC) and Ethereum (ETH), establishing diversified capital allocation as the norm in the industry.

In an interview with CNBC on Wednesday, Sisi opposed reducing cryptocurrencies to a single speculative asset class composed of BTC, ETH, altcoins, and memes. He pointed out that capital will always flow continuously. Currently, US investors are looking at artificial intelligence (AI) and emerging technology, causing capital to flow from native crypto assets to perpetual contract futures, companies that have not yet conducted initial public offerings (IPOs), and tokenized stocks.

Instead of crowding out capital from the crypto market, this flow is similar to the general trend between gold and commodities, and is still part of the broader cryptocurrency liquidity ecosystem. According to data compiled by Woofun AI, Asia, as the fastest growing region, is most likely to benefit from asset expansion brought about by tokenization technology. Sisi believes that the global nature of cryptocurrencies and the ability to be accessed without permission is their core advantage. As the monetary environment changes, capital may flow back into the Bitcoin sector, and tokenization technology will further expand the range of assets that can be traded through cryptocurrency channels. This is a healthy trend.

Structurally, deepening institutional participation is the foundation underpinning this trend. Over the past two years, institutional investors' participation in BTC, ETH, stablecoins, and cryptocurrency infrastructure has continued to increase, showing recognition of the long-term value of the crypto ecosystem.

ETF data confirms the strength of this institutional influx. As of August 2026, the net inflow of Bitcoin ETFs reached $3.5 billion, the highest level since October 2025; at the same time, the net inflow of Ethereum ETFs was $1.85 billion, the highest since August 2025. This is another landmark point in the optimization of the market's liquidity structure after traditional finance fully embraces crypto assets.