Financial Firms Targeted for Tech-Style Valuations
Strategist Tom Lee suggests shifting financial valuations as blockchain infrastructure adoption accelerates.
Updated on Sept. 19, 2026 in Financial Services
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Fundstrat strategist Tom Lee predicted that financial institutions will increasingly adopt tech-style valuation multiples as they integrate blockchain infrastructure. This shift follows observations that emerging artificial intelligence tools require advanced, automated payment systems.
Why it matters
Current financial systems struggle to verify automated payments initiated by AI-driven robots, necessitating a transition to blockchain-based infrastructure. As firms modernize these systems, their price-to-earnings ratios may mirror the higher multiples typically reserved for technology companies.
Bitmine Immersion Technologies shares rose over 8% on September 18, while Ethereum traded at $2,639, marking a 5% increase over the preceding day.
The players
Tom Lee
He is a prominent financial strategist and the head of research at Fundstrat Global Advisors.
Dan Ives
He is a well-known market analyst who frequently comments on the global technology and artificial intelligence landscape.
Fundstrat
This is a research firm that provides market strategy, technical analysis, and thematic investment ideas to institutional clients.
JP Morgan
This is a global financial services firm and one of the largest banking institutions in the United States.
The details
Fundstrat has updated its core buy list to include JP Morgan, while categorizing Robinhood, Galaxy Digital, and Riot Platforms among its bottom five recommendations. Tom Lee cited the rise of AI-driven automated payments as a primary catalyst for firms to rebuild their backend infrastructure on blockchain networks.
Timeline
Fundstrat updated its stock list in August 2026.
Bitmine Immersion Technologies stock closed up over 8% on September 18, 2026.
Ethereum traded at $2,639 on September 19, 2026.
Market Landscape
This transition toward tech-style financial valuation follows the trajectory of the ongoing global artificial intelligence infrastructure race. The move aligns financial firms with the hardware and software demands of a market dominated by AI and blockchain integration.
Individual investors may see shifts in how traditional banking stocks are marketed and valued compared to pure-play tech stocks. Those holding assets in blockchain-related companies should watch for continued volatility as financial institutions further integrate these systems.
The takeaway
The intersection of AI and finance is driving a structural redesign of how payments are processed globally. Investors should consider how a company's commitment to blockchain infrastructure may influence its long-term growth and valuation potential.
Further reading
Explore the latest shifts in Financial Services to understand how global markets are adapting to new technological demands.
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Do you trust that traditional financial institutions will successfully adapt their valuation models to the tech era?
