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Wall Street should market Ethereum as the crypto 'app store,' says Arca CIO Jeff Dorman

The Scoop

NOTE

Embracing DeFi and Crypto Assets

Regulatory uncertainties are gradually fading, prompting large hedge funds like Millennium to consider engaging in DeFi platforms such as Uniswap and Aave. Previously, funds were open to investing in crypto but avoided directly holding assets, opting for futures trading or bilateral swaps. The recent regulatory developments, such as the overturning of SAP 121, are breaking down barriers for funds to physically own crypto assets, leading to potential adoption of third-party custodians, personal wallets, and DeFi applications. The shift in sentiment among Democrats towards a more pragmatic approach to crypto is influencing the broader acceptance of cryptocurrencies in the financial sector, acknowledging the significant public interest in crypto investments.

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