WisdomTree CEO believes regulatory clarity under Trump will make Bitcoin ‘mainstream’ WisdomTree CEO believes regulatory clarity under Trump will make Bitcoin ‘mainstream’
Steinberg believes that regulatory clarity, the emergence of publicly traded crypto funds, and the tokenization of real-world assets (RWAs) will push crypto into the mainstream.
2 min read
Updated: Jul. 29, 2024 at 11:52 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
WisdomTree CEO Jonathan Steinberg believes that Bitcoin and crypto are on the brink of “mainstream” adoption and will achieve that status within the next few years.
Steinberg expressed his conviction during a July 29 CNBC interview, citing regulatory clarity, the emergence of publicly traded crypto funds, and the tokenization of real-world assets (RWAs) as the primary catalysts of this trend.
Regulatory clarity
During the interview, Steinberg emphasized the significance of former President Donald J. Trump’s speech at the Bitcoin 2024 conference on July 27 and the ripple effects it will have on the industry over the long term.
According to the WisdomTree CEO, Trump’s ambitious promise of regulatory clarity for crypto and digital assets marked a pivotal moment for the industry. He added that such regulatory frameworks will have a profoundly positive impact on both crypto as an asset class and on blockchain-enabled finance overall.
Steinberg said:
“[Trump] could not have spoken in a more ambitious tone for what he would do with crypto and Bitcoin as an asset class.”
He also highlighted that Bitcoin has been the best-performing asset class for 15 years and will continue to outperform the market, further fueling adoption as it gains regulatory acceptance.
Steinberg said that Bitcoin is the natural evolution of money, just like smartphones replaced landlines; he predicts digital assets will eventually become the dominant form of transacting.
He added:
“In money, you had gold and then paper money — we’re moving toward programmable money, which will really transform financial services broadly.”
Real-world assets
Steinberg also highlighted that the narrative around crypto is expanding beyond core assets like Bitcoin and Ethereum to include a broader range of tokenized real-world assets.
He explained:
“Crypto is an asset class, and then there’s this broader tokenization of all real-world assets. We see it all converging.”
Steinberg noted that traditional financial institutions are already venturing into the RWA market, citing examples like BlackRock’s BUIDL and Franklin Templeton’s FOBXX. Wall Street banking giant Goldman Sachs is also set to launch three new tokenization products later this year for institutional clients.
According to McKinsey & Company, the market for RWAs is projected to reach $2 trillion by 2030. However, the firm also said that the sector faces a “cold start” problem, primarily due to limited liquidity and transaction volume.
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Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
WisdomTree
WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models, and solutions.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Franklin Templeton
Franklin Resources, Inc., commonly known as Franklin Templeton, stands as an American multinational holding company rooted in the world of finance.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.