Are Crypto Markets Going Mainstream? What Treasury Execs Should Know

The first publicly traded bitcoin financial services company rang the Nasdaq opening bell on Friday (May 2).

The invitation given to Fold Holdings Inc. is just one signal among many, that, in a span of just a few months, cryptocurrency has entered a new phase of mainstream financial adoption.

And it’s just scratching the surface of a week that also saw the Arizona State Legislature move to the governor’s desk a pair of bills that could pave the way to create the country’s first state-level bitcoin reserve, while Strategy (formerly MicroStrategy) is doubling down on its own corporate bitcoin stockpile by raising $84 billion to buy more of the nominal crypto asset.

“With over 70 public companies worldwide now adopting a Bitcoin treasury standard, we are proud to be at the forefront in pioneering this space,” Strategy President and Chief Executive Officer said Phong Le said in a Thursday (May 1) earnings press release.

Even the Ivy-league institution Brown University has recently disclosed a $4.9 million investment in BlackRock’s bitcoin ETF, signaling a broader acceptance of cryptocurrencies in diversified portfolios.

Against this backdrop, observers believe it is becoming increasingly held, across Wall Street and beyond, that digital assets may no longer be confined to speculative circles. As bitcoin ETFs become a growing component of diversified portfolios and regulatory frameworks begin to crystallize, the decentralization dream that once defined crypto appears to be giving way to a new era of structured integration.

Read also: The Digital Asset Primer: Corporate Treasury Moves From HODL to Yield

Wall Street Makes Bigger Bet on Blockchain

It’s no longer a novelty to see major investment firms exploring crypto, but 2025 has marked a turning point. Morgan Stanley is preparing to offer cryptocurrency trading to its vast E*Trade client base as soon as 2026, potentially introducing millions of retail investors to digital assets through a familiar platform.

Meanwhile, Charles Schwab is gearing up to launch spot crypto trading for bitcoin and ethereum within the year, aiming to meet increasing demand from traditional investors seeking exposure.

These moves are not isolated. BlackRock, the world’s largest asset manager, is pushing blockchain technology deeper into conventional finance. The firm recently announced plans to register a new share class of its $150 billion money market fund on a blockchain, a step designed to enhance transparency and operational efficiency.

Perhaps the most eye-catching development in 2025 has been the Trump family’s foray into stablecoins. The USD1 token, unveiled at a Dubai conference and reportedly used in a $2 billion Binance investment by Abu Dhabi’s MGX, has raised both eyebrows and strategic questions. The token is part of a broader push by Trump allies to position themselves as power brokers in the crypto world.

“There’s certainly a change in how the administration views the digital assets industry,” Dan Boyle, partner at Boies Schiller Flexner told PYMNTS in an interview posted April 23. “This is not a confrontational posture.”

Together, these developments signify a major realignment of the financial world. Crypto, once believed to be a fringe and risk-heavy domain, is now becoming a potential pillar of corporate strategy. But what does it all mean for corporate treasurers managing enterprise funds?

See also: What Treasury Teams Can Learn From Central Banks’ Tokenization Projects

The Broader Implications for Treasury Management

The crypto landscape in 2025 introduces both opportunities and new complexities for corporate treasury teams. With bitcoin ETFs and institutional-grade platforms going live, treasurers have access to new, regulated asset classes. These can be useful for diversification, but they also require clear policy frameworks and risk management strategies.

Moves like BlackRock’s tokenization of funds hint at a future where treasury instruments operate on blockchain rails. This could enable real-time settlement, improved auditability and operational efficiencies.

As regulatory clarity emerges around stablecoins in particular, they are becoming potentially viable tools for cross-border payments and intra-company fund flows as treasurers investigate their use as liquid, programmable cash equivalents.

As PYMNTS covered, stablecoin market capitalization reached an all-time high in April amid strong performance across cryptocurrency sectors. Regulatory maturation, the real-world quest for stablecoin utility, and the institutionalization of digital assets mark a turning point in which the Wild West days of crypto are being replaced by a convergence with mainstream finance, PYMNTS reported April 23.

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