Charles Schwab Ready To Get Into Crypto, Is DeFi The Way Forward As Institutional Players Accumulate BTC?

November 29, 2024 at 08:35 AM EST

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As Bitcoin gets ever closer to $100,000, institutional investors cannot afford to ignore it any longer.

In a recent interview with the new CEO of Charles Schwab, (Rick Wurster), he revealed that Schwab customers are getting ready to receive direct exposure to Bitcoin and crypto via Spot ETFs.

At the same time, while BlackRock changed history after getting the first BTC Spot ETF approved, they are also quietly accumulating billions of dollars of Bitcoin for themselves.

So what does this mean for the future of Bitcoin and decentralized finance (DeFi)?

Could DeFi ecosystems, like Cutoshi, be the next big step in a market increasingly dominated by institutional players?

The Big Boys Load Up On BTC

According to info from Arkam Intelligence, Blackrock’s crypto wallet contains close to $50 billion dollars of crypto, with the majority in Bitcoin, but also has holdings in ETH and other altcoins. This all happened in a matter of months. And that’s just one of several asset managers, albeit the biggest.

To put this into perspective, gold ETFs took about five years to reach half that amount of investment.

James Heckman, CEO of RTB Digital Inc, highlighted the significance of this move, saying, “When they feel like they have an opportunity to have a monopoly... they move in, they take a massive position.”

This massive growth in Bitcoin accumulation isn’t just about market trends. It’s a coordinated effort by major financial institutions, which Heckman describes as “all one and... all coordinated.”

Charles Schwab Plans For Spot Crypto Exposure

According to Nate Geraci, Charles Schwab’s customers are beginning to demand more exposure to crypto-related products, saying “Can’t overstate how big of a deal this is”.

The firm already offers crypto-linked ETFs and Bitcoin futures, but CEO Wurster confirmed that the company plans to enter the spot market when regulations allow.

And given the pro-crypto government about to take power in the US and the SEC chair planning to step down on January 20th, that won’t take long.

Wurster also admitted to feeling a bit of personal regret for not investing earlier. “Crypto has certainly caught many’s attention and they’ve made a lot of money doing it,” he said. “I have not bought crypto and now I feel silly.”

DeFi - The Next Stage Of Growth

Once institutions establish their positions in Bitcoin, the natural progression is to explore decentralized finance.

DeFi offers things that Bitcoin doesn’t, such as receiving high yields from staking and easily trading all kinds of products such as tokenized versions of real-world assets (RWAs).

These things appeal to both retail and institutional investors who want to make the biggest returns possible and be at the forefront of innovation.

Other big players such as Andreessen Horowitz (a16z) have been prominent investors in the decentralized finance (DeFi) sector, actively supporting various web3 projects and funds, to the tune of several billion dollars.

Also, a16z's "State of Crypto 2024" report highlights the firm's ongoing interest in DeFi, noting that decentralized exchanges (DEXs) have grown to account for 10% of spot crypto trading activity - a significant increase from four years ago when most activity occurred on centralized exchanges.

This shift could open the door for projects that make DeFi accessible and scalable, addressing the needs of everyday users and institutions.

The Perfect Time To Explore Cutoshi’s Ecosystem?

Cutoshi is a prime example of how DeFi can evolve to meet the needs of both experienced users and crypto newcomers. Built on Ethereum, Cutoshi combines a cross-chain decentralized exchange (DEX) with peer-to-peer trading options, simplifying the often-complicated world of blockchain interoperability.

For users new to DeFi, Cutoshi also offers a learning academy, breaking down complex concepts into fun and engaging lessons. This makes the ecosystem approachable for everyone.

Cutoshi uses the meme power that has been so popular this year, (with even BlackRock having meme coins like PEPE and MOG). They are using the Lucky Cat as a mascot, alongside user participation, to build a loyal community.

This hybrid of practical utility and playful branding sets it apart in a market where many projects struggle to offer long-term value.

As the project is in presale and has raised over $1.1 million in funding, this is an ideal moment for those looking for large returns to investigate this new approach to DeFi.

For more information on the Cutoshi (CUTO) Presale:

https://cutoshi.com/

Join and become a community member:

https://twitter.com/CutoshiToken

https://t.me/cutoshi

Welcome to Cutoshi, the revolutionary meme coin, DeFi hub and educational platform inspired by the Lucky Cat and Satoshi Nakamoto’s teachings.

Traditionally, people put the Lucky Cat in their homes and businesses to maximize its lucky powers and bring them good fortune and wealth. Now Cutoshi the Lucky Cat is on the blockchain bringing luck, prosperity, and wealth to your digital assets.

Cutoshi is creating a path to financial freedom, for those who choose to honor the power of the Lucky Cat. Supporting the principles of freedom, privacy, anonymity, and monetary empowerment for the masses. Cutoshi aims to bring the benefits of blockchain to everyone.

The regulatory environment surrounding cryptocurrencies is evolving and varies across jurisdictions. It is your responsibility to ensure compliance with applicable laws and regulations in your country or region before engaging with Custoshi.

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