5 months ago
Will Ethereum remain institutions' top choice?
jonahrobrts breaks down the blockchain competition for TradFi's attention 🤼♂️
========================================
Disruption. Digitization. Financial inclusion. Future-proofing.
What do all of these oft-repeated buzzwords have in common? They’ve all been used by crypto-pilled associates at TradFi firms to pitch their bosses on the exciting upside of blockchain tech. This year, it seems, the executives are listening.
Institutions jumped into crypto more headlong than ever in 2024. Their moves are starting to bridge the gap between TradFi and DeFi. However, this article isn’t focused on why firms are building onchain. Instead, we are focusing on where these funds are choosing to build.
----------------------------
What’s Happening on Ethereum?
Ethereum is the world’s largest smart-contract blockchain network. It has secured over $90 billion in RWAs, including stablecoins. 2024 has been a big year for the adoption of non-stablecoin RWAs on Ethereum as well, with the network growing its onchain U.S. treasuries, bonds, and cash equivalents from $800 million to over $1 .5 billion and overall non-stablecoin RWA value to $2 .9 billion.
Some of the major players building on Ethereum this year include
Visa, BlackRock and FTI_US
Earlier this month, Visa announced that they are building the Visa Tokenized Asset Platform (VTAP) on Ethereum. This is the company’s biggest step toward crypto adoption thus far. VTAP enables Visa to issue and manage fiat-backed tokens on Ethereum. It is intended to be a sandbox for participating financial institutional partners to create and experiment with fiat-backed tokens. They expect to begin piloting the platform with Spanish multinational bank BBVA in 2025. While the VTAP program is certainly an experiment, it gives credit to the thesis that TradFi will migrate its operations onto Ethereum over the coming decades.
----------------------------
Yet, the success of Ethereum’s competitors highlights a critical point: institutions are no longer bound to a single network. While Ethereum is foundational, blockchains like Solana and Stellar provide alternatives that are increasingly hard to ignore. However, they also present novel interoperability concerns.
Interoperability is central to the future of institutional blockchain adoption. As Visa states in their VTAP press release announcement, the largest benefits of building onchain include easy integration, programmability, and interoperability. Institutions that venture onto non-EVM chains like Solana or Stellar may face challenges in asset liquidity and protocol compatibility. This can lead to reliance on third-party services to bridge assets between chains, which introduces complexity and security risks. Ethereum’s widespread use means that staying within the EVM ecosystem—whether through Ethereum or Layer 2 solutions—remains the simplest and most secure option for institutions.
----------------------------
However, for Ethereum to maintain its lead in the race toward institutional adoption, it must continue to balance world-class security and stability with the performance and scalability that competing chains continue to push. The race to capture the attention of institutional finance will be won by the network that can not only meet today’s demands but also anticipate the needs of tomorrow. Ethereum is well-positioned for now, but staying on top will require constant evolution.
jonahrobrts breaks down the blockchain competition for TradFi's attention 🤼♂️
========================================
Disruption. Digitization. Financial inclusion. Future-proofing.
What do all of these oft-repeated buzzwords have in common? They’ve all been used by crypto-pilled associates at TradFi firms to pitch their bosses on the exciting upside of blockchain tech. This year, it seems, the executives are listening.
Institutions jumped into crypto more headlong than ever in 2024. Their moves are starting to bridge the gap between TradFi and DeFi. However, this article isn’t focused on why firms are building onchain. Instead, we are focusing on where these funds are choosing to build.
----------------------------
What’s Happening on Ethereum?
Ethereum is the world’s largest smart-contract blockchain network. It has secured over $90 billion in RWAs, including stablecoins. 2024 has been a big year for the adoption of non-stablecoin RWAs on Ethereum as well, with the network growing its onchain U.S. treasuries, bonds, and cash equivalents from $800 million to over $1 .5 billion and overall non-stablecoin RWA value to $2 .9 billion.
Some of the major players building on Ethereum this year include
Visa, BlackRock and FTI_US
Earlier this month, Visa announced that they are building the Visa Tokenized Asset Platform (VTAP) on Ethereum. This is the company’s biggest step toward crypto adoption thus far. VTAP enables Visa to issue and manage fiat-backed tokens on Ethereum. It is intended to be a sandbox for participating financial institutional partners to create and experiment with fiat-backed tokens. They expect to begin piloting the platform with Spanish multinational bank BBVA in 2025. While the VTAP program is certainly an experiment, it gives credit to the thesis that TradFi will migrate its operations onto Ethereum over the coming decades.
----------------------------
Yet, the success of Ethereum’s competitors highlights a critical point: institutions are no longer bound to a single network. While Ethereum is foundational, blockchains like Solana and Stellar provide alternatives that are increasingly hard to ignore. However, they also present novel interoperability concerns.
Interoperability is central to the future of institutional blockchain adoption. As Visa states in their VTAP press release announcement, the largest benefits of building onchain include easy integration, programmability, and interoperability. Institutions that venture onto non-EVM chains like Solana or Stellar may face challenges in asset liquidity and protocol compatibility. This can lead to reliance on third-party services to bridge assets between chains, which introduces complexity and security risks. Ethereum’s widespread use means that staying within the EVM ecosystem—whether through Ethereum or Layer 2 solutions—remains the simplest and most secure option for institutions.
----------------------------
However, for Ethereum to maintain its lead in the race toward institutional adoption, it must continue to balance world-class security and stability with the performance and scalability that competing chains continue to push. The race to capture the attention of institutional finance will be won by the network that can not only meet today’s demands but also anticipate the needs of tomorrow. Ethereum is well-positioned for now, but staying on top will require constant evolution.
6 months ago
💬 BlackRock CEO Larry Fink says Ethereum can grow “spectacularly.”
He also states that Bitcoin is an asset class in its own right.
"BlackRock is in discussions with institutions around the world"
"Bitcoin is an alternative to other commodities like gold"
He also states that Bitcoin is an asset class in its own right.
"BlackRock is in discussions with institutions around the world"
"Bitcoin is an alternative to other commodities like gold"
6 months ago
10 years ago, on October 6, 2014, the first stablecoin was launched.
Called Realcoin, the first tokens were issued on the Omni overlay of the Bitcoin network.
Now called #Tether (USDT), over 120 billion tokens are in circulation and the company generated more profits than BlackRock in 2023!
Tether generates its yield from U.S. Treasuries, which the company holds more of than some countries, such as Germany.
Called Realcoin, the first tokens were issued on the Omni overlay of the Bitcoin network.
Now called #Tether (USDT), over 120 billion tokens are in circulation and the company generated more profits than BlackRock in 2023!
Tether generates its yield from U.S. Treasuries, which the company holds more of than some countries, such as Germany.
6 months ago
🚨 BlackRock acquires 182 BTC and 2,420 ETH
They now hold 358,000 BTC and 350,000 ETH, for a total value of over $23 billion.
They now hold 358,000 BTC and 350,000 ETH, for a total value of over $23 billion.
6 months ago
🚨 BlackRock recently adjusted its custody agreement for its spot ETF #Bitcoin with Coinbase, aiming to improve withdrawal times.
One of the major points of this amendment is the requirement for Coinbase to process withdrawals from #Bitcoin to a public address within 12 hours of receiving instructions.
This means that as soon as an ETF holder wants to withdraw their #Bitcoin , Coinbase, as the custodian, will have to execute this transaction within a relatively short period of time.
One of the major points of this amendment is the requirement for Coinbase to process withdrawals from #Bitcoin to a public address within 12 hours of receiving instructions.
This means that as soon as an ETF holder wants to withdraw their #Bitcoin , Coinbase, as the custodian, will have to execute this transaction within a relatively short period of time.
6 months ago
6 months ago
7 months ago
📂 BlackRock publishes a report called “Bitcoin: A Unique Diversification”.
Bitcoin is seen as an asset with unique characteristics that can serve as an effective means of diversification in a context of growing global instability.
“Bitcoin, with its high volatility, is clearly a ‘risky’ asset in its own right. However, most of the risk and potential return factors that bitcoin faces are fundamentally different from traditional ‘risky’ assets, making it unsuitable for most traditional financial markets.”
Bitcoin is seen as an asset with unique characteristics that can serve as an effective means of diversification in a context of growing global instability.
“Bitcoin, with its high volatility, is clearly a ‘risky’ asset in its own right. However, most of the risk and potential return factors that bitcoin faces are fundamentally different from traditional ‘risky’ assets, making it unsuitable for most traditional financial markets.”
7 months ago
🚨 BlackRock and Microsoft partner to create $30 billion AI investment fund.
Named the "Global AI Investment Partnership", the goal will be to build data centers and energy projects to meet the growing demands arising from AI.
https://www.ft.com/content...
Named the "Global AI Investment Partnership", the goal will be to build data centers and energy projects to meet the growing demands arising from AI.
https://www.ft.com/content...
7 months ago
💬 BlackRock claims on its website that #Bitcoin "could serve as a hedge against growing global disorder and declining confidence in governments, banks and fiat currencies."
7 months ago
7 months ago
BlackRock dethrones Grayscale to become the World's Largest Digital Asset Manager by on-chain holdings.
8 months ago
BlackRock has overtaken Grayscale as the largest collective holder of on-chain assets through its exchange-traded funds (ETFs).
8 months ago
💬 Salim Ramji, Vanguard's new CEO, says the asset manager "will not launch a crypto ETF."
As a reminder, Vanguard_Group is the second largest asset manager in the world after BlackRock, with more than $9 trillion under management.
As a reminder, Vanguard_Group is the second largest asset manager in the world after BlackRock, with more than $9 trillion under management.
8 months ago
8 months ago
📊 The 11 biggest holders of #Bitcoin in the world:
🥇 Satoshi Nakamoto
🥈 Binance exchange
🥉 Blackrock
According to EricBalchunas , BlackRock could even become "#1 by the end of next year, and will probably remain so for a very long time."
🥇 Satoshi Nakamoto
🥈 Binance exchange
🥉 Blackrock
According to EricBalchunas , BlackRock could even become "#1 by the end of next year, and will probably remain so for a very long time."
8 months ago
BlackRock and MicroStrategy accumulate more than 570,500 #Bitcoin (+$32,800 million), or about 2.7% of the total maximum offer!!️ 👀
8 months ago
🚨 BlackRock files application with SEC to allow options trading on its Ethereum spot ETF
8 months ago
(E)
Major firms, including BlackRock, Fidelity, Grayscale, and MicroStrategy, have not sold their Bitcoin despite the market crash.
8 months ago
🚨 BlackRock's Bitcoin spot ETF exceeds $1 .55 billion in volume in its first hour today
8 months ago
8 months ago
The summary of the news #crypto and US market
1) The United States debt has just crossed $35 ,000 billion (+280 billion per month since 2020)
2) Grayscale sold yesterday 210 million $ETHE , BlackRock bought +60 million, total net flow -98 million
3) Side #Bitcoin it is +200 million at BR for a net inflow of +124 million in total
4) The $BTC of the US government seized during the SilkRoad affair moved wallet yesterday (2 billion in value)
5) The Ta-Da application is available on iOS and Android
6) Aave offers a Lido stETH wstETH pool on its v3
7) Finary opens the possibility via its app to invest in #crypto for companies via their holding company
8) Coinbase's quarterly results will be revealed this Thursday (big week of results for some of the super 7s as well)
9) Tomorrow, Wednesday, the FOMC should set the tone regarding the rate cut by the FED expected by the market around mid-September 2024, some analysts are hoping for a first hammer cut of -0.5 while the base is expected to be - 0.25 points
10) Samara Cohen of BlackRock confirms that she has no immediate plans to launch an ETF $SOL
11) 21Shares have integrated Chainlink Proof of Reserved into their ETF for more transparency
12) The Cybertruck is the best-selling electric truck in the United States in Q2 2024, the stock $TSLA climbs back into the top 10 of the largest US caps
13) Pumpdotfun exceeded Ethereum’s 24-hour revenue yesterday
14) Qatar reconsiders its position on cryptos, in order to lift the ban and define a framework
15) The balance of ETF's spots on #Bitcoin now exceeds 50 billion
16) The halving $BTC took place 100 days ago
1) The United States debt has just crossed $35 ,000 billion (+280 billion per month since 2020)
2) Grayscale sold yesterday 210 million $ETHE , BlackRock bought +60 million, total net flow -98 million
3) Side #Bitcoin it is +200 million at BR for a net inflow of +124 million in total
4) The $BTC of the US government seized during the SilkRoad affair moved wallet yesterday (2 billion in value)
5) The Ta-Da application is available on iOS and Android
6) Aave offers a Lido stETH wstETH pool on its v3
7) Finary opens the possibility via its app to invest in #crypto for companies via their holding company
8) Coinbase's quarterly results will be revealed this Thursday (big week of results for some of the super 7s as well)
9) Tomorrow, Wednesday, the FOMC should set the tone regarding the rate cut by the FED expected by the market around mid-September 2024, some analysts are hoping for a first hammer cut of -0.5 while the base is expected to be - 0.25 points
10) Samara Cohen of BlackRock confirms that she has no immediate plans to launch an ETF $SOL
11) 21Shares have integrated Chainlink Proof of Reserved into their ETF for more transparency
12) The Cybertruck is the best-selling electric truck in the United States in Q2 2024, the stock $TSLA climbs back into the top 10 of the largest US caps
13) Pumpdotfun exceeded Ethereum’s 24-hour revenue yesterday
14) Qatar reconsiders its position on cryptos, in order to lift the ban and define a framework
15) The balance of ETF's spots on #Bitcoin now exceeds 50 billion
16) The halving $BTC took place 100 days ago
8 months ago
🚨 No other crypto ETFs are planned for BlackRock in the near future.
According to BlackRock's Samara Cohen, while Bitcoin and Ethereum meet expectations for ETFs, no other digital asset comes close.
The appetite for other ETFs, particularly Solana, simply wasn't there yet according to her
https://decrypt.co/242308/...
According to BlackRock's Samara Cohen, while Bitcoin and Ethereum meet expectations for ETFs, no other digital asset comes close.
The appetite for other ETFs, particularly Solana, simply wasn't there yet according to her
https://decrypt.co/242308/...
No Other Crypto ETFs In The Foreseeable Future: BlackRock - Decrypt
While Bitcoin and Ethereum met the minimum expectations for ETFs, no other digital asset has come close, BlackRock's Samara Cohen said.
https://decrypt.co/242308/no-other-crypto-etfs-foreseeable-future-blackrock
8 months ago
(E)
RWA will be worth $16 trillion by 2030 👀
BlackRock & Goldman Sachs talk about REVOLUTIONARY technology…
First of all, what are RWAs? 🤔
To put it simply: these are assets from the real world (vouchers, real estate, art, etc.) which are then tokenized using the blockchain
And the advantages offered by these assets are really interesting…
👉 they allow investing in more traditional markets via the blockchain, and with little liquidity
👉 they increase the liquidity of these sometimes illiquid markets
👉 which says blockchain, says transparent & immutable environment
RWAs allow exposure to sectors that were previously inaccessible AND from just a few dollars 🤝
In addition: it allows institutions to raise funds for their products by exposing themselves to a new “type” of market (the blockchain).
Some say the RWA bubble could resemble the Internet bubble in the late 90s.
So yes, a bubble often ends up bursting, but not if it is sufficiently solid 👀
And still: the opportunities will be really crazy…
According to experts, the RWA market could reach $2 trillion by 2030 🚀
Others, like the Boston Consulting Group, speak of $16 ,000 billion.
Yes, it's huge, but not surprising: several giants are already starting to expose themselves to this sector...
Already, we recently had the giant Goldman Sachs launch three new tokenization products 🌐
The bank explains this choice by “a strong increase in customer interest”.
BlackRock has also launched its own “BUILD” fund.
It allows institutional investors “to access US dollar yields on short-term US Treasury bonds” 💵
The fund has already reached $500 million 💰
BlackRock also supports the project $ONDO
He also invested $5 million in it last month 💸
In “exchange”: ONDO transferred $95 million in assets to the BUILD fund (to support its OUSG token)
And you, what is your gem RWA token? 👀
BlackRock & Goldman Sachs talk about REVOLUTIONARY technology…
First of all, what are RWAs? 🤔
To put it simply: these are assets from the real world (vouchers, real estate, art, etc.) which are then tokenized using the blockchain
And the advantages offered by these assets are really interesting…
👉 they allow investing in more traditional markets via the blockchain, and with little liquidity
👉 they increase the liquidity of these sometimes illiquid markets
👉 which says blockchain, says transparent & immutable environment
RWAs allow exposure to sectors that were previously inaccessible AND from just a few dollars 🤝
In addition: it allows institutions to raise funds for their products by exposing themselves to a new “type” of market (the blockchain).
Some say the RWA bubble could resemble the Internet bubble in the late 90s.
So yes, a bubble often ends up bursting, but not if it is sufficiently solid 👀
And still: the opportunities will be really crazy…
According to experts, the RWA market could reach $2 trillion by 2030 🚀
Others, like the Boston Consulting Group, speak of $16 ,000 billion.
Yes, it's huge, but not surprising: several giants are already starting to expose themselves to this sector...
Already, we recently had the giant Goldman Sachs launch three new tokenization products 🌐
The bank explains this choice by “a strong increase in customer interest”.
BlackRock has also launched its own “BUILD” fund.
It allows institutional investors “to access US dollar yields on short-term US Treasury bonds” 💵
The fund has already reached $500 million 💰
BlackRock also supports the project $ONDO
He also invested $5 million in it last month 💸
In “exchange”: ONDO transferred $95 million in assets to the BUILD fund (to support its OUSG token)
And you, what is your gem RWA token? 👀
8 months ago
Daily Memecoin Recap - July 21
Great volume today as $sol reaches $185
Plenty of metas emerged
Elon Musk Changes His Profile Pic
$dmaga -> hit $76m , "Dark MAGA", Elon's new pfp was made by the people behind this coin, plenty of whales involved
$darkelon -> hit $3 .6m, @elonmusk 's new pfp has a dark filter
$laser -> hit $3 .3m, "Laser Eyes"
- Elon's new pfp is him with a dark filter and laser eyes
- $dmaga drained a lot of liquidity from the market
Betas Emerge from Dark MAGA
$lmaga -> hit $330k , "Light MAGA"
$dpepe -> hit $313k , "Dark Pepe"
Joe Biden Withdraws From Presidential Election
$boden -> $17 .8m to $5 .48m (-69%), down 99%+ from All Time High, redacted JoeBiden
$joever -> $520k to $2 .88m (5.53x), "It's Joever"
$byeden -> hit $1 .4m
Kamala Harris Coins
$kama -> $10 .15m to $30 .5m (3x), redacted KamalaHarris
$kto -> hit $1 .8m, "Kamala Take Over", Kamala + CTO wordplay
$cumala -> hit $1 .2m, "Cumala Whoris"
$KaBooty -> hit $349k
Mini Breaks ATH
$mini -> $1 .9m to $32 .8m (17.3x from the low)
$bigi -> $6k to $1 .69m (281x), mini derivative, was a dead coin that got CTO'd & onboarded some KOLs
Zoomer Memes
$trench -> $115k to $1 .15m (10x), "The Trenches"
$chance -> hit $320k , "Take A Chance", popular sentence on twitter
Popcat Is The First Cat Meme To hit $1b MC
$popcat -> hit 1.02b
Cat Memes
$ily -> $52k to $3 .5m (67x), CTO, cute cat
$mew -> $293m to $684m (2.33x), finally broke a recent high
$baba -> hit $858k , small cat
$mavis -> hit $410k , tiktok cat
$jamie -> hit $360k
$beami -> hit $310k
Dog Memes
$billy -> $93m to $224m (2.4x), continues to make new ATH's
$popdog -> $1m to $6 .3m (6.3x), $popcat derivative
$ray -> hit $2 .1m, CTO
$boo -> hit $1 .4m, hyped launch
More Cooks
$mother -> $27 .7m to $90 .2m (3.25x), IGGYAZALEA
still putting in work
$bear -> $7 .2m to $23 .6m (3.27x), new ATH
$autism -> $4 .14m to $7 .38m (1.78x)
$ethereum -> hit $3 .5m, "Ethereum On Solana"
$alpha -> hit $950k , CTO, pushed by KOLs on twitter
$down -> hit $455k
$hawkptah -> hit $446k , based on elonmusk's tweet
$nuts -> hit $430k
$larry -> hit $286k , Based on Larry Fink (CEO of BlackRock)
This week is looking like it's going to be VERY good
If majors continue to pump, there's going to be more quality launches
If you weren't locked in before, now's your chance 🔒
Great volume today as $sol reaches $185
Plenty of metas emerged
Elon Musk Changes His Profile Pic
$dmaga -> hit $76m , "Dark MAGA", Elon's new pfp was made by the people behind this coin, plenty of whales involved
$darkelon -> hit $3 .6m, @elonmusk 's new pfp has a dark filter
$laser -> hit $3 .3m, "Laser Eyes"
- Elon's new pfp is him with a dark filter and laser eyes
- $dmaga drained a lot of liquidity from the market
Betas Emerge from Dark MAGA
$lmaga -> hit $330k , "Light MAGA"
$dpepe -> hit $313k , "Dark Pepe"
Joe Biden Withdraws From Presidential Election
$boden -> $17 .8m to $5 .48m (-69%), down 99%+ from All Time High, redacted JoeBiden
$joever -> $520k to $2 .88m (5.53x), "It's Joever"
$byeden -> hit $1 .4m
Kamala Harris Coins
$kama -> $10 .15m to $30 .5m (3x), redacted KamalaHarris
$kto -> hit $1 .8m, "Kamala Take Over", Kamala + CTO wordplay
$cumala -> hit $1 .2m, "Cumala Whoris"
$KaBooty -> hit $349k
Mini Breaks ATH
$mini -> $1 .9m to $32 .8m (17.3x from the low)
$bigi -> $6k to $1 .69m (281x), mini derivative, was a dead coin that got CTO'd & onboarded some KOLs
Zoomer Memes
$trench -> $115k to $1 .15m (10x), "The Trenches"
$chance -> hit $320k , "Take A Chance", popular sentence on twitter
Popcat Is The First Cat Meme To hit $1b MC
$popcat -> hit 1.02b
Cat Memes
$ily -> $52k to $3 .5m (67x), CTO, cute cat
$mew -> $293m to $684m (2.33x), finally broke a recent high
$baba -> hit $858k , small cat
$mavis -> hit $410k , tiktok cat
$jamie -> hit $360k
$beami -> hit $310k
Dog Memes
$billy -> $93m to $224m (2.4x), continues to make new ATH's
$popdog -> $1m to $6 .3m (6.3x), $popcat derivative
$ray -> hit $2 .1m, CTO
$boo -> hit $1 .4m, hyped launch
More Cooks
$mother -> $27 .7m to $90 .2m (3.25x), IGGYAZALEA
still putting in work
$bear -> $7 .2m to $23 .6m (3.27x), new ATH
$autism -> $4 .14m to $7 .38m (1.78x)
$ethereum -> hit $3 .5m, "Ethereum On Solana"
$alpha -> hit $950k , CTO, pushed by KOLs on twitter
$down -> hit $455k
$hawkptah -> hit $446k , based on elonmusk's tweet
$nuts -> hit $430k
$larry -> hit $286k , Based on Larry Fink (CEO of BlackRock)
This week is looking like it's going to be VERY good
If majors continue to pump, there's going to be more quality launches
If you weren't locked in before, now's your chance 🔒
