Cryptocurrency Adoption in Traditional Financial Markets in the United States

Purpose: The aim of the study was to assess the cryptocurrency adoption in traditional financial markets in the United States. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Cryptocurrency adoption in traditional financial markets in the United States has been marked by a gradual but significant increase in interest and integration. Studies indicate that while the adoption rates vary across different sectors, there's a growing acceptance and utilization of cryptocurrencies among institutional investors, particularly in the form of investment products like Bitcoin futures and exchange-traded funds (ETFs). Regulatory clarity and institutional infrastructure developments have played crucial roles in fostering this adoption. Additionally, the involvement of prominent financial institutions and corporations, such as banks offering cryptocurrency custody services and major companies integrating Bitcoin into their balance sheets, highlights a broader acceptance of cryptocurrencies within traditional finance. Implications to Theory, Practice and Policy: Technology acceptance model (tam), diffusion of innovations theory and institutional theory may be use to anchor future studies on assessing the cryptocurrency adoption in traditional financial markets in the United States. Develop educational initiatives aimed at enhancing financial literacy and cryptocurrency awareness among investors, financial professionals, and policymakers. Advocate for clear and coherent regulatory frameworks that provide legal certainty and consumer protection while fostering innovation and market development.