June 23 marked a significant milestone for the entire crypto industry as investment firm VanEck hosted the Nasdaq opening bell ceremony. Also present at the event was the mascot of the NFT project Pudgy Penguins. VanEck representatives view this moment as a symbol of the growing integration of digital assets into traditional financial structures.
Following the announcement and overall market momentum, the floor price of the Pudgy Penguins collection rose by 5,09% in the past 24 hours, reaching 9.30 ETH.
NFTs, Banks, and New Regulations
The appearance of Pudgy Penguins at the event highlights the increasing closeness between crypto projects and institutional players. The NFT team is already collaborating with the NASCAR auto racing league, although details of the partnership have not yet been disclosed.
Meanwhile, more banks on Wall Street are reconsidering their stance on cryptocurrencies. JPMorgan, Bank of America, and Morgan Stanley have started incorporating digital assets into their business models. One of their main areas of focus is custodial services — the secure storage of clients’ digital assets.
Betting on Stablecoins
The growing interest in stablecoins is driven by new legislative developments. On June 17, the U.S. Senate passed the GENIUS Act, which introduces rules for handling stablecoins pegged to the U.S. dollar.
In light of this, Bank of America is considering launching its own stablecoin. CEO Brian Moynihan stated in an interview that once such operations are legalized, the bank will be ready to offer customers a “Bank of America coin” that can be freely exchanged for U.S. dollar deposits. Currently, such operations are prohibited for banks.
A Cautious Start
Most banks are proceeding cautiously, limiting themselves to pilot programs, partnerships with crypto companies, and testing of trading tools. Charles Schwab is planning to launch spot crypto trading. JPMorgan is working on the issuance of a deposit token, JPMD, on Coinbase’s Base blockchain.
VanEck’s appearance on Nasdaq and the activity of projects like Pudgy Penguins reflect a clear trend: major financial institutions are increasingly viewing digital assets as a new financial reality.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.
