Wall Street trading institutions are increasingly shifting their focus from traditional advantages like physical custody and speed to on-chain infrastructure, according to Annabelle Huang, CEO of Altius Labs. Jump Trading has utilized its high-frequency trading expertise to create Firedancer, a high-performance validator client for Solana, while its project DoubleZero aims to commercialize a global private fiber and undersea cable network to minimize latency. Meanwhile, Cumberland is supplying real-time cryptocurrency market data to the Pyth Network, and Jane Street, which executed over $110 billion in crypto trades in 2024, has bolstered its team with a former infrastructure architecture lead from Copper. As stablecoins and tokenized real-world assets enhance liquidity, the on-chain market is poised for growth. Future Alpha is expected to derive from the production, ordering, and monetization of block space, marking a significant shift in strategy for these financial powerhouses.