Crypto is is on the verge of becoming mainstream, according to Jonathan Steinberg, founder and CEO of asset manager WisdomTree.
In a recent interview on CNBC, Steinberg highlighted the factors driving adoption of cryptocurrencies, including regulatory clarity, publicly-traded cryptocurrency funds, and the tokenization of real-world assets (RWA).
Steinberg is basing his theory on the support presidential candidate Donald Trump’s gave crypto in recent speech at the Bitcoin 2024 conference.
Trump’s ambitious tone
US political leaders are becoming more open to crypto. Trump’s ambitious tone and promises of regulatory clarity for the industry could have a positive impact on both crypto assets and blockchain-enabled finance, Steinberg said.
He is putting his money into crypto, his company has already entered the crypto space with the launch of its Bitcoin exchange-traded fund (ETF) earlier this year. The company has also filed for registration of an Ethereum ETF with US regulators as he really believes that crypto is on the verge of becoming mainstream.
The tokenization of real-world assets
The tokenization of real-world assets is another trend driving the mainstream adoption of crypto. McKinsey & Company projects the RWA market to reach $2 trillion by 2030, attracting traditional financial institutions like BlackRock and Goldman Sachs.
BlackRock’s USD Institutional Digital Liquidity Fund already holds over $500 million worth of tokenized Treasurys, demonstrating the growing interest in The tokenization of real-world assets.
As the narrative around crypto expands to include asset tokenization and programmable money, Steinberg believes that the industry is poised for significant growth and transformation in the coming years. With regulatory clarity and increasing institutional interest, the future of crypto looks bright.
