Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.

What's going on, guys? It is Saturday, July 24th, and that means it's time for the weekly recap.

And this is going to be a quick one, but I think it'll still be informative.

First, for those of you who haven't listened to yesterday's show yet, it was sort of a

banana's week in the institutions getting in on Cryptosphere. I won't spend too much time on it because, like I said,

it's all in that episode, but here are the highlights. Fidelity Digital Assets surveyed found

52% of institutional investors are already allocated to crypto. 71% say it's important to them,

and of those 71%, 90% expect to have an allocation

in the next five years. Goldman Sachs released a survey of family offices that it works with that

found that 15% are already allocated in crypto, while 45% total are interested in the space.

Family offices, again, are meant to serve the investing purposes of usually a wealthy individual

or sometimes a small consortium of individuals. They can be either nimble or conservative based on the

person whose money is being managed, and so represent a really interesting bridge space in the

institutional investor landscape. Speaking of the institutional investor landscape,

J.P. Morgan is enabling all their wealth management clients

to access crypto now. That makes them the first major U.S. wealth practice to do that. What's more,

they're giving indirect exposure products like the Grayscale and Osprey Trusts available to retail,

including, it seems, through the Chase mobile app. So that could also be a pretty big deal.

Finally, BNY Mellon joined State Street and a consortium of four other banks to back a new exchange pure digital.

But this wasn't the only thing going on in the institutional space. Kathy Wood and Ark hosted the B-word,

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