coindesk.com 
Latest developments: In an interview with Jennifer Sanasie on CoinDesk's Public Keys Ginns said the convergence between traditional finance and crypto continues to gain momentum despite a prolonged market slump
- Franklin Crypto aims to build a leading fundamental crypto investment platform following Franklin Templeton's acquisition of 250 Digital, the firm that emerged from CoinFund's liquid investment business, Ginns said.
- While venture capital remains a natural fit for institutional allocators, Ginns said current market conditions also make liquid crypto investments increasingly attractive.
- "There's a big disconnect between where prices are and real fundamentals," Ginns said, pointing to growing institutional engagement across the sector.
What this means: Ginns identified several developments that could bring more institutional capital into crypto markets.
- He pointed to Robinhood's blockchain initiative as an example of traditional financial distribution moving onto crypto rails, creating new opportunities for developers and users.
- Ginns also cited growing interest in tokenized money market funds, which could allow investors to earn yield while maintaining on-chain portability.
- Tokenized equities, stablecoin adoption and broader financial infrastructure are all contributing to the convergence of traditional finance and blockchain technology, he said.
Reading between the lines: Regulatory clarity and improved token economics could become the next catalysts for crypto markets.
- Ginns said an upcoming Senate vote on the CLARITY Act could provide institutions with greater certainty about how digital assets will be regulated.
- He also expects more crypto projects to improve how value accrues to their tokens, arguing that stronger tokenomics are becoming increasingly important for fundamental investors.
- Hyperliquid was one example Ginns highlighted, saying its revenue-driven token buyback model has supported both fundamentals and price performance.
Worth watching: Ginns believes established crypto projects could regain investor attention as they rethink their token models.
- He pointed to decentralized finance protocols such as Uniswap and Aave, as well as oracle network Chainlink, as examples of projects that could benefit from improved value capture for token holders.
- Ginns also said Stellar's efforts to deepen institutional engagement stand out among blockchain infrastructure projects.
