According to panelists, valuation and structure remain major hurdles. Traditional finance relies on familiar metrics like revenue, earnings, and price-to-earnings ratios — frameworks that most crypto tokens simply do not have. Without durable revenue models or clear value accrual mechanisms, many tokens fail institutional due diligence.

Jeremy Ng of OpenEden emphasized that tokenized real-world assets present a stronger case because they reduce operational costs and improve efficiency. Meanwhile, Federico Variola of Phemex cautioned that institutional enthusiasm could fade in a prolonged bear market, suggesting conviction is still being tested. For now, institutions appear far more comfortable allocating capital to Bitcoin, Ethereum, and blockchain infrastructure than to speculative tokens lacking transparent business fundamentals.