Crypto becomes an investable asset on Wall Street

Back in 2020 and 2021, most institutional investors were still dismissive of cryptocurrencies and Bitcoin. When FTX went bankrupt in 2022, JP Morgan and Goldman Sachs were convinced that, like NFTs, the entire crypto market would collapse. But with the Genius Act established in the United States and the Mica regulations in the European Union, a new reality has emerged this year.

Large investors can no longer deny it: Bitcoin has been a profitable investment for years, and thanks to stablecoins, a real use case for crypto has now been found.

Economist

Earlier this month, there was an important admission from the Kobeissi Letter, a weekly macro overview that has a loyal readership on Wall Street. Kobeissi calculated that Bitcoin’s annual return in the past few years was around 90%, a phenomenal result. With BlackRock’s ETF now also available as an investment option, Kobeissi argued, there was no reason not to shift at least a portion of your portfolio into crypto.

History is being made in crypto markets:

The Ethereum ETF, $ETHA, has officially exceeded $10 BILLION in assets under management for the first time.

It took just 251 trading days to reach this threshold, the 3rd-fastest for any ETF on record.

In the past, only two Bitcoin… pic.twitter.com/JnvF7FailF

— The Kobeissi Letter (@KobeissiLetter) July 25, 2025

Since this weekend, readers of The Economist have been informed in a similar manner.

Author Mike Bird admitted that thanks to stablecoins (such as Tether and USDT), a real “use case” has been found for crypto: as a means of sending remittances, or money transfers by migrants. Expats from, for example, poorer “Eastern Europe” working in wealthier “Western Europe” often used to send money back to their families using the services of Western Union and other international currency exchanges.

Remittances, defined as monetary transfers made by migrants to their home countries, play a crucial role in global economies and the livelihoods of individuals and families

The more useful stablecoins and tokens prove to be, the greater the risk https://t.co/GzkuBijDAW

— The Economist (@TheEconomist) July 23, 2025

Thanks to the crypto market, they can now waive the fees they used to pay to those institutions and send back a little more money each time, using stablecoins. The global market for money sent back by so-called “emigrants” is worth billions of dollars, and the share held by crypto is growing daily.

As crypto enthusiasts have been saying for years, it’s still early.