In a bold and unapologetic episode of Crypto Banter, Ran Neuner dismantles the dream of a classic “altseason” and offers a brutally honest reality check: retail isn’t driving this market anymore—Wall Street is. From ETF plays to fee-generating protocols, pre-IPO crypto stocks, and simple, yield-focused narratives, Ran lays out exactly where institutional money is flowing—and which coins are likely to benefit.
“Your altcoins suck,” Ran opens. “But there’s a list of coins Wall Street is about to buy—and that’s where the real altseason will happen.”
“Altseason as You Know It Is Dead”
Forget the 2017 and 2021-style rallies where every altcoin pumped. According to Ran, those days are gone:
“There are too many tokens. Retail can’t push this market anymore. The dynamics have changed—crypto is institutional now.”
With over 50 million tokens in circulation and capital fragmented across countless ecosystems, the age of indiscriminate altcoin rallies is over. Instead, Ran says we’ll see a segmented market:
- Bitcoin and Ethereum at the top
- A few elite altcoins with real institutional backing
- The “trenches”: memecoins and retail-only plays
The 4 New Categories of Institutional Crypto Plays
Ran says institutions will only support assets they understand, and he breaks the winners into four buckets:
1. Coins With Imminent ETFs: “100% Net New Demand”
Wall Street is waiting on regulatory approval to launch ETFs for several altcoins. Unlike Bitcoin and Ethereum, these coins don’t have overhanging Grayscale trust supply—meaning the buying pressure will be entirely fresh.
Top ETF Watchlist:
- Solana (SOL)
- Litecoin (LTC)
- XRP
- Cardano (ADA)
- Avalanche (AVAX)
- Sui (SUI)
- Polkadot (DOT)
- HBAR
- Tron (TRX)
- Dogecoin (DOGE)
“When those ETFs are approved, there’s no forced selling—just net new inflows. That’s pure upside.”
2. Pre-IPO Crypto Stocks: “Insiders Are Buying Now”
Ran highlights how institutional and retail investors are piling into crypto-related stocks long before they ever reach a public listing.
Examples:
- Kraken – Private valuations rising fast ahead of expected IPO
- Circle – Riding the stablecoin boom
- Robinhood & Coinbase – Already publicly traded, but with momentum driven by crypto exposure
“You could have bought Kraken at $21—now it’s $30. These stocks are the new altcoins for institutions.”
3. Fee-Generating Protocols: “Wall Street Only Understands Revenue”
Forget the buzzwords like ZK-Rollups and cross-chain liquidity. Ran says TradFi only invests in models they understand—fees, revenue, and clear business logic.
Wall Street-Approved Models:
- Exchanges like Hyperliquid – “Buy-side, sell-side, fees. Simple.”
- Lending & borrowing protocols like Aave – “Interest goes to buybacks. Done.”
- Stablecoins – “Viewed as treasury investments.”
“If you can explain the protocol in 30 seconds to a TradFi guy, it’ll attract real capital.”
4. Treasury Vehicles: “The Next MicroStrategy Model”
Wall Street is building single-asset treasury firms to soak up demand. Think MicroStrategy, but with altcoins. These vehicles buy and hold large positions in single coins and offer exposure to traditional investors.
Example:
- SQD – Already has a dedicated treasury fund accumulating supply
- Hyperliquid (HLP) – Gaining traction as funds look to replicate the MicroStrategy playbook
“If a token has a structured treasury buyer, it’s going up. That’s how this cycle works.”
Golden Crosses and Fed Tailwinds Set the Stage
On top of institutional flows, the macro environment is turning favorable again.
- The NASDAQ just printed a golden cross
- The S&P 500 is inches from all-time highs
- Bitcoin is trailing 41 days behind the S&P—and historically follows
“Every time the S&P hits all-time highs, Bitcoin follows within ~40 days. We could see BTC at $112K very soon.”
Meanwhile, Jerome Powell’s recent Congressional testimony hinted at up to 3 rate cuts this year—contingent on tariff risks being neutralized. Markets took that as a green light, and stocks surged.
ETH ETFs Are Quietly Gaining Ground
While attention is on Bitcoin, Ran reveals that Ethereum’s ETF presence is accelerating, with 3.37% of all ETH now held in ETFs—compared to 6.3% for BTC.
“ETH is doing extremely well considering its ETF was approved much later. Institutions are quietly accumulating.”
Retail’s Role: Down in the Trenches
Although institutional investors dominate the top tiers, Ran admits there’s still money to be made for retail traders—but it’s high risk and high effort.
“If you want to chase returns in the trenches, memecoins and AI agents are your playground. But it’s hard work and brutal out there.”
Crypto Stocks Are Stealing the Retail Flow
Ironically, many retail investors who used to push up altcoins are now turning to crypto-related stocks:
- Coinbase is up 146% since April
- Robinhood is up 178%
- Even non-crypto stocks like Hims & Hers are drawing trader attention
“Retail doesn’t need to figure out MetaMask and bridges anymore. They just buy Robinhood on their brokerage app.”
Final Message: “You’re a Professional Now—Follow the Money”
Ran ends with a clear mandate to viewers:
“Stop waiting for an altseason that won’t come. Follow institutional flows. Buy what Wall Street understands. You’re not a hobbyist anymore—you’re a professional.”
Whether it’s ETFs, IPOs, fee-charging platforms, or treasury models, the message is consistent:
the money is moving—and you should move with it.