The latest @a16zcrypto report highlights how some of the world’s largest financial institutions are no longer spectators. From BlackRock’s tokenized money-market fund to Visa’s tokenized asset platform and Fidelity’s stablecoin pilot, the shift is now structural, not experimental. It echoes what we’ve been seeing in our own research: institutional participation isn’t about speculation anymore, it’s about integration. We’re excited for what’s next as this momentum compounds.