Institutional convergence: Wall Street embraces alternative assets and crypto-TradFi bridges

Goldman Sachs acquired NEOS for $2.25B to add $30B in active income ETFs, derivative income ETFs growing at 70% CAGR. Kraken launched S&P 500 perpetuals, offering 24/7 leveraged index trading. Metaplanet holds 43k BTC with no selling pressure. Tether's clean audit and SEC's CLARITY Act developments (postponed again, cloture Sept 15) further signal institutional convergence. Institutional traders on CME turned net long on BTC, and ETF inflows are returning. Trump family's World Liberty Trust conditional OCC approval for stablecoin bank adds to convergence.