Bitcoin’s price falls below $100,000, but institutions are still adopting digital assets. A US trading platform opens crypto trading for institutions, while Singapore Exchange launches perpetual futures trading. Corporate BTC holdings now make up 14% of Bitcoin’s supply, raising concerns over centralization. SoFi announces crypto trading for retail clients in the US.

IRS approves rules for crypto ETPs to stake digital assets and share rewards with investors. This move simplifies tax reporting for ETPs and improves innovation in the US. Hong Kong launches its third blockchain bond offering, attracting institutional investors globally. Despite market fluctuations, institutions are optimistic about the future of blockchain and cryptocurrency financial products.

Read more at Cointelegraph: Institutions Adopt Crypto Despite Bitcoin Bloodbath