All news articles
Lorikeet News Desk
Apr 10, 2025
TL;DR
The Trump administration's pro-crypto stance is opening doors for more institutional involvement in the crypto space.
Major financial institutions like Morgan Stanley and Bank of America are now embracing cryptocurrencies.
This could mean greater legitimacy for crypto, but it also raises key questions. Are these IPOs a sign of mainstream adoption, or are we entering another speculative frenzy?
Andy Wang
Senior Manager | Quist
Major financial institutions are increasingly embracing cryptocurrencies and integrating them into their services, as the Trump administration adopts a notably pro-crypto stance – marking a significant change from previous U.S. policies.
Mainstream momentum: "After years of skepticism, major banks are finally embracing crypto. Morgan Stanley, Bank of America, and RBC are now competing to underwrite crypto IPOs, marking a significant shift in their stance," Andy Wang, Managing Partner at Runnymede Capital Management, said in a LinkedIn post.
Highly anticipated listings: On top of the regulatory changes under a more crypto-friendly White House opening the door for more institutional involvement, Wang cited two prominent crypto-related listings expected in the near future as indications of how sentiment had changed:
Cryptocurrency firm Gemini, founded by long-time crypto entrepreneurs the Winklevoss twins, is exploring a 2025 IPO.
Klarna, a major player in the 'Buy Now, Pay Later' (BNPL) finance space, is integrating crypto ahead of its April listing.
"This could mean greater legitimacy for crypto, but it also raises key questions," Wang wrote. "Are these IPOs a sign of mainstream adoption, or are we entering another speculative frenzy?"
Signs of confidence: Michele Mattei, a Senior Manager at fintech company Quist, said on LinkedIn, a public listing would mark a significant milestone for Gemini and the broader industry. "If successful, the move could provide additional transparency and confidence in the crypto exchange market at a time when institutional and retail investors alike are watching closely."
If successful, the move could provide additional transparency and confidence in the crypto exchange market at a time when institutional and retail investors alike are watching closely.
Michele Mattei
Senior Manager | Quist
Crypto convergence: Karl Zettl, CEO of Iknaio Cryptoasset Analytics, said Klarna listing with an expected $15 billion valuation was significant for the crypto world's integration into mainstream finance. "The company's decision to integrate cryptocurrency services reflects the growing convergence of traditional financial services and digital assets," he said.
A word of warning: While 2025 was shaping up to be an exciting year for crypto enthusiasts, challenges remain for the industry as it continues efforts to establish an integrated and accepted role for digital assets within the global financial landscape.
Despite the bullish sentiment pervading at present, Wang had an oft-repeated caution for those considering jumping on the bandwagon: "Investors should stay informed, assess risk carefully, and remember that public markets don't always guarantee long-term success."
