#CryptoRoundTableRemarks

Institutional Adoption: Beyond the Hype**

- **BlackRock CEO Larry Fink**: “Our **Bitcoin ETF** now holds over **$25B in AUM**, but the next frontier is tokenizing real-world assets (RWAs). Expect pension funds and sovereign wealth funds to enter RWA markets by late 2025.”

- **Coinbase CLO Paul Grewal**: “Regulatory clarity remains fragmented. The SEC’s approval of **ETH spot ETFs** was a milestone, but Congress must prioritize a unified framework to avoid stifling innovation.”

**Takeaway**: Institutional demand is shifting from pure-play crypto exposure to infrastructure supporting asset tokenization and compliance.