Jeroen Tielman (Theta Capital): Stablecoins are much faster and cheaper

Jeroen Tielman (Theta Capital): Stablecoins are much faster and cheaper

February 11, 2026

Crypto

This text was originally written in Dutch. This is an English translation.

By Esther Waal

The crypto market is rapidly becoming more professional. Following Bitcoin ETFs in 2024, 2025 will bring further regulation and institutional entry. MiCA will create a harmonised supervisory framework, while tokenisation of real-world assets will bring digital and traditional markets closer together. At the same time, questions remain about applications, strategy and positioning within multi-asset portfolios. Reason enough for Financial Investigator to ask Jeroen Tielman, Head of Institutional Relations at Theta Capital, a number of questions.

2025 appears to be the year in which more and more institutional parties are seriously considering crypto exposure. What factors have led to this increase in institutional interest?

‘The basis for this is a growing awareness that blockchain technology will have a profound effect on economic processes as we know them today. All processes involving value management and value transfer (also referred to as the “trust economy”) will ultimately be replaced by processes based on blockchain technology. In terms of volume, this could account for a third of GDP. Furthermore, the introduction of crypto ETFs (Bitcoin and Ethereum) has enabled institutional parties to invest in BTC and ETH within a regulated context as a first step. But the main reason is the 180-degree shift in the SEC's attitude towards crypto with the appointment of Paul Atkins as SEC chairman. Finally, the financial sector's embrace of blockchain technology is also an important factor. For example, payments with stablecoins are much faster and cheaper. BlackRock recently expressed its expectation that the storage and transfer of securities will be entirely supported by blockchain technology.

What are the most important conditions – in terms of infrastructure, governance and risk management – for large pension funds or insurers to get involved?

‘In addition to regulation and supervision, there will need to be sufficient liquidity for institutional parties to build a position in the new ‘on-chain’ economy. Ultimately, the availability of regulated blockchain funds of institutional depth and quality is a prerequisite for institutions to be able to enter the market.’

Attachments

Related posts