The Institutional Shift Beneath the Surface
The institutionalization of crypto may be the least important part of what institutions are doing with it. For years, the institutional crypto story was easy to understand. Bitcoin became an asset class. ETFs arrived. BlackRock and Fidelity entered the market. Banks began offering digital asset services. Traditional finance, after years of resistance, was finally accepting that crypto was not going away. That is the part everyone can see. Underneathe it, something much larger has been taking shape.
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