Once again this year, we would like to sweeten the Advent season for our readers with an Advent calendar. In a slightly different form, each door contains a “knowledge bomb”, which will be supplemented with an extraordinary special prize on Christmas Day. Behind the fourteenth door is the term “Institutional adoption”. To enter the giveaway on the 24th, simply participate in the polls and like the respective Twitter posts. Institutional adoption The euphoria around digital assets, driven by the new use cases, took Bitcoin and all the other cryptocurrencies to new heights. An asset class of its own emerged from its infancy and even the traditional financial world wanted a piece of the digital pie. The listing of bitcoin futures and options on U.S. exchanges was followed by the first U.S.-listed bitcoin ETF in October 2021. An accolade for the oldest cryptocurrency and a starting point for many major U.S. banks to offer digital asset services to its customers. The trend, which sprouted its first seeds back in 2020, continued in 2022. Financial giants such as BlackRock, JP Morgan and Goldman Sachs have moved deeper into the field. They all see the maturation of digital assets as an asset class and offer services to their clients – most of which include trading and safekeeping. News State Street offers crypto custody to institutional clients11. March 2022 News BlackRock offers cryptocurrencies to its clients5. August 2022 Minds Thomas Brunner on adoption and regulation of crypto assets24. August 2022 News BNY Mellon custodies cryptocurrencies for clients13. October 2022 Advent calendar day 14What is preventing many financial institutions from higher engagement in the crypto industry? Changpeng Zhao’s (“CZ’s”) haircut There is no interest at all Lack of regulatory clarity in the U.S. & the EU