Crypto Industry Split as Institutions Enter Market, Says Digital Asset Summit
At the Digital Asset Summit, Blockworks co-founder Michael Ippolito noted a duality in the crypto landscape: new institutional interest contrasts with many coins failing to reach past all-time highs. He emphasized a lack of significant innovation.
Crucible founder Meltem Demirors discussed the U.S. government's planned strategic bitcoin reserve and highlighted that major financial institutions now have crypto strategies. However, she expressed skepticism about their motivations, stating they operate as "mercenaries" focused on profit rather than mission-driven engagement.
LMAX Group CEO David Mercer provided a more optimistic outlook, predicting that digital assets could grow to $20 trillion to $30 trillion by 2030, representing approximately 15% of all assets. By 2040, he forecasts this figure could rise to 80%.
- Half of the 40 global banks Mercer interacts with are expected to engage with digital assets by 2026.
- A tier-one bank will initiate spot crypto trading within 12 months, marking a shift towards direct digital asset engagement.
- A major bank's entry into spot trading could lead to wider adoption among other banks.