Grayscale argued on Oct. 28 that institutional adoption will keep crypto moving forward regardless of the U.S. midterm election outcome, while acknowledging that elections can affect it at the margin. It cited Blackrock and JPMorgan’s expansion of tokenized funds and estimated that 80%–85% of global crypto activity occurs overseas.
Blackrock’s blockchain-based share classes opened to eligible European investors on Aug. 4, but official ownership records remain with the funds’ transfer agent infrastructure. JPMorgan expanded its tokenized money market funds to Solana on Oct. 22; its MONY private fund serves qualified investors. Visa said on its Oct. 27 earnings call that annualized stablecoin settlement volume had surpassed $25 billion, a run rate rather than a completed year’s volume.
