While cryptocurrencies have been relatively popular among fringe and retail investors, they have not gained significant foothold amongst institutional investors. The institutional segment has long been seen as the highway to widespread adoption. It was thought that the evolution of utility and security tokens, stablecoins, ICOs, and Decentralized Finance (DeFi) applications, which would appeal to the needs of institutional investors, would accelerate the adoption rate among them. A study estimated that institutional firms controlled only 7% of the global digital asset market with the remainder dominated by retail investors. This article discusses the challenges and opportunities facing this new phenomenon of cryptocurrencies.