Institutional investors are increasingly directing capital towards crypto-related equities instead of altcoins, according to BeInCrypto. This trend has shifted the traditional 'altcoin season' to public markets, with significant gains observed in crypto-linked stocks in 2025. Alana Levin of Variant highlights that Bitcoin dominance has been on the rise since November 2022, driven by regulatory approvals and increased accessibility. Artemis CEO Jon Ma notes that centralized platforms like Coinbase and Robinhood are showing strong fundamentals, outperforming many blockchain projects. Both Levin and Ma suggest that the market's center of gravity has moved to Wall Street, positioning crypto equities as the new speculative frontier.