Since spot Bitcoin ETFs were approved in the US in 2024, the convergence of crypto and traditional finance has entered a new phase. As of June 2026, global crypto ETF AUM has surpassed USD 150 billion, covering Bitcoin, Ethereum, Solana, and other underlying assets.
ETF Channel: Institutional capital accelerates entry
Spot Bitcoin ETFs have become the main channel for traditional institutions to allocate crypto assets. Products from asset management giants like BlackRock, Fidelity, and Invesco continue to grow in size. Institutional holdings have risen from 25% in 2024 to 45% currently, indicating significantly improved acceptance of crypto assets by the mainstream financial system.
RWA: Real-world asset tokenization becomes the new hotspot
RWA (Real World Asset tokenization) has become the hottest track in the crypto industry in 2026. BlackRock’s BUIDL fund (US Treasury tokenization product) has surpassed USD 5 billion, with private credit, real estate, art, and other asset classes being tokenized one after another. Regulators in Hong Kong, Singapore, and Switzerland have successively introduced RWA regulatory frameworks to promote industry standardization.
Stablecoins and payment scenarios
Stablecoins continue to expand their applications in cross-border payments, trade settlement, remittances, and other scenarios. The combined circulation of USDC and USDT exceeds USD 200 billion, and several international banks have begun to provide stablecoin settlement services. The stablecoin regulatory framework promoted by the Hong Kong Monetary Authority is expected to further regulate the market.
Looking ahead, the convergence of crypto and traditional finance will develop at a deeper level, including tokenized funds, on-chain derivatives, infrastructure interoperability between DeFi and TradFi, etc. While watching opportunities, investors also need to pay attention to regulatory uncertainty and market volatility risks.