At the center of these discussions stood Core—represented onstage by contributor Rich Rines, who joined the panel "The Year Ahead for Bitcoin" alongside leading voices in finance, regulation, and blockchain. The message he brought was clear: Bitcoin is entering a new era, one where yield generation doesn't come at the expense of trust or self-custody.

In his remarks, Rines called attention to a pattern that’s repeated itself across crypto cycles. Historically, Bitcoin holders seeking yield were forced to turn to centralized lenders—BlockFi, Genesis, Celsius—entities that promised returns, but carried significant counterparty risk. When those systems collapsed, users lost more than yield—they lost confidence.

“But now,” Rines explained, “Bitcoin staking flips the paradigm. It introduces yield without principal risk—without surrendering custody. You earn from the network itself.”

This shift, he emphasized, will become the new benchmark for institutions. When self-custodial options can offer organic yield secured by the protocol, capital allocators—from hedge funds to pensions—will be compelled to rethink risk-adjusted returns. Centralized lending won’t disappear, but it will need to compete on a new playing field: one that demands transparency, assurances, and protocol-level integrity.

Rines’ commentary landed at a critical moment. As Bitcoin ETFs draw institutional flows and macro conditions turn favorable, the question of how capital engages with Bitcoin is more relevant than ever. Core’s role? To offer a scalable, decentralized alternative for institutions seeking exposure and yield—without compromising on first principles.

“We shouldn’t kid ourselves though,” he added. “As soon as Wall Street really gets its hook into Bitcoin, there’s going to be rehypothecation everywhere. The system is going to have to adapt, and the key question becomes: what sort of guarantees can you get, and ultimately, what yield can you earn?”

Beyond Core’s presence, DAS 2025 featured an expansive agenda focused on what’s next for institutional crypto. Notable speakers included:

Key sessions dove into themes like tokenized treasuries, real-world asset settlement onchain, allocator risk frameworks, and the rising prominence of stablecoins in global payments infrastructure. DAS wasn’t just a forum for ideas—it was a staging ground for the next wave of capital formation in crypto.

While many at DAS focused on what’s coming, Core showcased what’s already here. Its innovations—including Bitcoin staking, lstBTC, and Dual Staking—represent the infrastructure institutions are increasingly seeking: yield-bearing, decentralized, and self-custodial by design.

In a room full of allocators, asset managers, and financial institutions actively exploring crypto integration, Core stood out by delivering substance over speculation. Rines’ panel not only introduced new frameworks for thinking about Bitcoin yield, but made it clear that institutional-grade infrastructure doesn’t have to come at the cost of decentralization.

And it wasn’t just talk. Throughout the event, Core’s approach drew attention from investors, analysts, and policy experts alike—many of whom are now re-evaluating the role of protocol-native yield in their evolving digital asset strategies.

Bitcoin has always been a monetary revolution. Now, it’s evolving into a financial system—with infrastructure to match. The emergence of native yield, secured at the protocol layer, marks a new phase in Bitcoin’s maturation. It opens doors for institutions to engage meaningfully without relying on legacy intermediaries or opaque lending schemes.

As institutional adoption deepens and the industry moves beyond experimentation into long-term positioning, Core’s vision of a decentralized, yield-bearing Bitcoin ecosystem is no longer theoretical—it’s operational.

Or follow the conversation on X: @Coredao_Org

The next phase of institutional crypto isn’t coming. It’s already here, and Core is helping define it.