Former executive from Grayscale reveals Traditional Finance companies’ newfound inclination towards public blockchains

According to a former Grayscale executive, traditional financial institutions are increasingly interested in tokenizing assets on public blockchains. Celisa Morin, who now heads Reed Smith’s crypto department, mentioned that the narrative led by BlackRock could prompt more firms to tokenize assets on public chains instead of private ones. BlackRock recently launched its $100 million tokenized fund on the Ethereum network, which currently holds $288 million in assets. Despite potential legal issues, Morin believes that many firms will follow BlackRock’s lead. She also highlighted that Franklin Templeton already tokenized its money market fund on the Ethereum layer-2 network last year. However, Morin expressed skepticism about the approval of spot Ether exchange-traded funds (ETFs) in May, citing the lack of communication between fund issuers and the SEC as a negative factor.