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Institutional adoption of crypto is gaining momentum, even as prices continue to lag behind what Seth Ginns describes as some of the strongest fundamentals in years.

In an interview with Jennifer Sanasie on CoinDesk’s Public Keys, Ginns said the convergence between traditional finance and crypto is steadily advancing despite a weak market environment.

He noted that Franklin Crypto is building a fundamentals-focused investment platform following Franklin Templeton’s acquisition of 250 Digital, a firm spun out of CoinFund’s liquid investment business.

While venture capital remains a natural entry point for institutions, Ginns said current conditions are also making liquid crypto assets more attractive.

“There’s a noticeable gap between market prices and underlying fundamentals,” he said, pointing to increasing institutional participation across the space.

What This Means

Ginns identified several factors that could bring more institutional capital into crypto markets.

He highlighted Robinhood’s blockchain initiative as a sign that traditional financial distribution is moving onto crypto rails, creating new opportunities for both developers and users.

He also pointed to rising interest in tokenized money market funds, which allow investors to generate yield while maintaining on-chain liquidity.

More broadly, tokenized equities, growing stablecoin adoption, and expanding blockchain infrastructure are driving deeper integration between traditional finance and crypto.

Reading Between the Lines

Ginns said regulatory clarity and improved token economics could act as key catalysts going forward.

He noted that a potential Senate vote on the CLARITY Act could provide institutions with clearer guidance on digital asset regulation.

He also expects crypto projects to enhance how value accrues to tokens, emphasizing that stronger tokenomics are becoming critical for fundamentals-driven investors.

As an example, he cited Hyperliquid, whose revenue-based token buyback model has supported both its fundamentals and price performance.

Worth Watching

Ginns believes established crypto projects could regain investor interest as they refine their token structures.

He pointed to DeFi platforms such as Uniswap and Aave, along with oracle network Chainlink, as projects that could benefit from improved value capture mechanisms.

He also highlighted Stellar as a notable blockchain infrastructure project making progress in institutional adoption.