Crypto Industry at Crossroads: How Traditional Finance and Crypto Could Merge in 2024

According to Decrypt, the crypto industry is at a crossroads, with 2024 shaping up to be one of its most consequential years. The potential impact of a spot Bitcoin ETF and the merging of crypto and traditional finance are key factors to watch. While some analysts believe a spot Bitcoin ETF could bring in a massive influx of traditional capital, others hold a more sober view of its likely impact. Eric Risley, managing partner of digital assets advisory firm Architect Partners, believes that even if a spot Bitcoin ETF doesn't rake in a trillion dollars overnight, its creation in 2024 will signal a major shift in crypto's history, from speculation to investment. Risley estimates that the process of crypto's transition to adulthood, on a global scale, will take between five and 10 years. The recent acquisition of digital asset infrastructure firm Securrency by Depository Trust & Clearing Corp. (DTCC), a key instrument of Wall Street infrastructure, signals the clearinghouse's commitment to getting ahead of blockchain technology.