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At close · Mon, Oct 5, 2026
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Home›Crypto›Market Structure›TD Cowen says Bitcoin is shifting into a capital marke…

TD Cowen says Bitcoin is shifting into a capital markets ecosystem

The discussion ties the shift to the rise of corporate Bitcoin treasuries and capital markets products covered at New York’s Bitcoin Treasuries conference.

Bitcoin Magazine highlighted remarks from TD Cowen Managing Director Lance Vitanza suggesting Bitcoin is evolving beyond a standalone asset into a broader capital markets ecosystem that includes common stock, preferreds, bonds, and income products.

The outlet said Vitanza framed the change around institutions moving from debating whether to own Bitcoin to focusing on how they gain exposure, including through corporate treasuries and related capital markets offerings.

Bitcoin Magazine reported that the views reflected what Vitanza said he heard at the Bitcoin Treasuries conference in New York, where he discussed how institutional investors increasingly evaluate Bitcoin within a portfolio.

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