#资产代币化 Seeing the SEC Chair's recent statement, my first reaction is: the on-chain transformation of the financial markets is no longer a future concept but an ongoing process.

But you know what, every time I see such major policy positive news, I remind myself to stay calm. Tokenized securities, on-chain trading, higher transparency—these indeed represent advances in efficiency. DTC participants can directly transfer tokenized securities to registered wallets, with transactions officially recorded and tracked, which is a significant technical breakthrough.

However, I want to tell everyone: the emergence of innovative policies often coincides with the most volatile market sentiment. Many investors are attracted by the "on-chain future" narrative and are eager to allocate assets accordingly. That’s why I always emphasize the importance of position management.

No matter how good the track or how high-quality the assets are, they should be placed reasonably within your overall allocation framework. This policy positive is a positive signal, no doubt, but it should not be a reason for you to leverage or go all-in. The first principle of asset safety is always to protect your principal, followed by returns.

My simple advice to you: if you are optimistic about the long-term prospects of asset tokenization, you can participate moderately, but think carefully about the proportion of this investment in your portfolio. The market’s on-chain transformation is a long-term process, so there’s no need to rush in during the first wave.