Institutions Aren’t Buying Crypto, They’re Buying the Rails

Executives from Phemex, Polygon, OpenEden, and Lisk discussed at a BeInCrypto Digital Summit that institutional capital is flowing into digital markets, but not for speculative altcoins. Instead, traditional finance is seeking "operating exposure" by investing in the underlying infrastructure, such as tokenization, custody, and on-chain settlement, as a way to gain efficiency and reduce costs, rather than taking direct balance sheet risk on volatile tokens. Panelists noted that while institutions are figuring out how to size crypto as an asset class, conviction is still being tested, and many are structuring partnerships cautiously. A major barrier to broader adoption is the lack of traditional valuation frameworks (like P/E ratios) for most tokens, leading allocations to skew toward Bitcoin, Ethereum, and infrastructure plays. The consensus is that the next phase of institutional adoption hinges on the industry building businesses with familiar structures, revenue, and accountability.

(Source：BeInCrypto)