During a Twitter Spaces session, Binance CEO Changpeng Zhao expressed his enthusiasm for the entrance of large players like BlackRock into the cryptocurrency space, stating that it would offer more coverage and serve a clientele that is currently underserved. He also noted that many of these institutions are not comfortable using pure crypto platforms and may prefer existing relationships with legacy firms.

Zhao believes that the entrance of these institutions will bring non-crypto people into the space and bring innovation through competition, ultimately helping to improve the industry. He is not worried about these institutions posing a threat to Binance's user base, as many of their users come from outside the US.