Institutional money is coming for bitcoin, but Adam Back says it moves slower than you think
By Ian Allison
Published on April 29, 2026.
Blockstream CEO Adam Back has stated that institutional adoption for bitcoin is taking longer than anticipated due to slow adoption by investors. The arrival of Morgan Stanley at the U.S. Bitcoin BTC $ 76,967.72ETF party was seen as a catalyst to end the current crypto bear market. However, Back believes institutional adoption will take a year, even 18 months. He also noted that while the government may be credited with boosting the industry, there is still a regulatory influence. He suggested that while new administrations may be open for crypto business, the established bitcoin TFs have the power to transcend administrations, whether Republican or Democrat.
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