The 'long bitcoin, short the bankers' era is officially over as TradFi giants embrace digital assets
Traditional financial institutions are increasingly integrating digital assets, signaling the end of the adversarial 'long bitcoin, short the bankers' era. Major firms are now actively building custody and trading infrastructure to meet client demand and regulatory clarity.
Why it matters
The institutional adoption of cryptocurrency marks a significant shift in the financial sector, moving digital assets from a fringe speculative interest to a mainstream component of global finance.
"This year everyone just put on the crypto jersey," Horsley said during an interview with CoinDesk. "Everyone works for crypto now."
"This summer two financial institutions that manage over a trillion dollars of investor savings and wealth looked at this space in a bear market and said, we want to make this available to our clients.”
Bitwise did not identify the firms or answer questions about what the approvals allow or when client access begins. Horsley said financial institutions of that size were not opening access during the 2022 downturn.
Crypto's stance toward traditional finance (TradFi) was once captured by the slogan "long bitcoin, short the bankers," Horsley pointed out. Financial institutions have now moved to "the other side of the table" and are working to expand adoption rather than debating whether the asset class should exist, he said.
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