Institutional investment in cryptocurrencies is still limited, but a number of positive changes in the regulatory environment and market infrastructure could be a turning point. An example is the recognition of Bitcoin as decentralized enough to be considered a commodity rather than a security. Additionally, court decisions such as the Ripple Labs case set precedents for regulating the crypto industry. The development of infrastructure, including regulated futures for Bitcoin and Ethereum on the Chicago Mercantile Exchange, is also helping to attract institutional investors.