Summary
TLDR: Financial giants like BlackRock and Fidelity are embracing crypto, launching bitcoin ETFs and exploring blockchain technology. Institutions are shifting behaviors, focusing on asset tokenization and intraday liquidity trading on-chain. Fidelity is tokenizing treasury reserves on the blockchain, while Citi partnered with Ava Labs for a proof of concept on Avalanche. Executives are optimistic despite market fluctuations, believing that those with high conviction in the industry will be rewarded.
Key Points
1. Financial giants are actively involved in the crypto space, with companies like BlackRock and Fidelity launching bitcoin ETFs and funds.
2. Traditional financial institutions are starting to shift their behaviors towards crypto, with a focus on tokenization and permissioned distributed ledger technology.
3. There is a growing interest in offering services on public blockchains, with a focus on asset tokenization and upgrading financial markets’ infrastructure using blockchain technology.