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BlackRock Believes Institutional Adoption of DeFi is "Many, Many, Many Years Away"

June 23 (Cointime) - BlackRock, the world's largest asset manager, has filed for a spot Bitcoin ETF, leading to a surge in the cryptocurrency market. While BlackRock is optimistic about institutional adoption of crypto, it believes that institutional participation in decentralized finance (DeFi) is still many years away due to regulatory hurdles.

BlackRock's head of strategic partnerships, Joseph Chalom, spoke at the Coinbase Global Inc.'s State of Crypto Summit, where he praised Coinbase's role in bridging the gap between traditional investors and DeFi. BlackRock is also exploring tokenization and stablecoins as areas of interest, and has been discussing the potential use of stablecoins for institutional funds movement with clients.

Bitcoin Bitcoin $91,686.04
-1.95%
BlackRock Bitcoin ETF DeFi
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