I think the popularity of Bitcoin has really damaged the perception of crypto. Also the “currency” idea. Packaged as a technology (“web3”) instead of a speculative asset makes the idea of crypto much more palatable.

That said, many on Wall Street do have a point. Too many cryptos today have no real utility so they do fit the negative stereotypes and probably will get wiped out, making them good to avoid for the average investor.

With more use cases and innovation on the chains, the winners should become less speculative and more in-line with traditional investments, though we may be a little while away from that.