According to the source, clearer regulation is positioned to unlock the next wave of institutional crypto adoption, with the largest impact on BTC and ETH, as recent rulemaking and approvals have created compliant investment wrappers and market infrastructure (source: U.S. SEC; European Commission; Hong Kong SFC; Basel Committee on Banking Supervision). In the U.S., the SEC’s January 2024 approval of spot Bitcoin ETFs enabled mainstream access through registered products and established a regulatory template that could extend to additional assets via future rulemaking (source: U.S. SEC). In the EU, MiCA’s phased rollout across 2024–2025 standardizes licensing, custody, and passporting for crypto service providers, reducing barriers for banks and asset managers to participate across member states (source: European Commission; ESMA). In Hong Kong, the SFC’s April 2024 authorization of spot BTC and ETH ETFs, including in-kind subscriptions, broadened regulated access for Asian institutions and set operational precedents for primary market flows (source: Hong Kong SFC). For banks, the Basel Committee’s crypto exposure standard clarifies capital treatment and risk limits, allowing risk-weighted allocation frameworks that large institutions require (source: Basel Committee on Banking Supervision). On compliance, FinCEN’s 2023 actions targeting mixers and heightened AML expectations indicate flows will concentrate in regulated venues and products, favoring compliant ETFs, CME futures, and licensed custodians (source: U.S. FinCEN; CME Group). Trading takeaways: track ETF primary creations and redemptions, CME futures basis and open interest, and licensing milestones under MiCA and the SFC regime to time entries around demand inflections (data sources: ETF issuers including BlackRock iShares and Fidelity; CME Group; ESMA; Hong Kong SFC).