For a longest time, Wall Street had three tricks: securitization (breaking cash flows into securities), portfolios (putting securities in a box) and leverage (borrowing and lending). (One could argue swaps are a fourth.) That's it! IPOs? Securitise a company. CDO? Portfolio mortgage securities. Mortgages? Securitise them!
Now there are blockchains. A whole new thing! If there's a group thrilled shitless about blockchains and ICOs, it's Wall Street. Best part: when the whole thing goes south, they get to blame Silicon Valley.
Pardon me, I was being facetious. We agree. I was responding to a comment claiming investment banks "are clearly threatened by the ICO boom" [1]. Wall Street is more likely to coöpt, as opposed to be replaced by, blockchains.