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Fortune magazine published its first Crypto 100 ranking on June 11, covering 3,000 companies divided into ten categories. BlackRock and Hyperliquid stand out as the big winners, each in a very different register. Does this ranking really say anything about the state of the sector, or does it mainly reflect the institutional push that has been reshaping crypto since 2024?
In brief
- The Fortune Crypto 100 covers ten categories, from DeFi to stablecoins, including venture capital and mining.
- BlackRock’s Bitcoin and Ethereum ETFs have attracted billions of dollars in institutional capital since their launch in January 2024.
- ETFs on Hyperliquid’s HYPE token raised between $75 million and $160 million within their first days in May 2026.
Fortune magazine unveils its first Crypto 100 and BlackRock dominates ETFs
The Fortune Crypto 100 ranking was built in partnership with the blockchain analytics company Inca Digital, based on the contributions of more than 200 industry experts. Ten categories structure the ranking, each containing ten companies.
BlackRock takes first place in the ETF and investment products category. Its Bitcoin ETFs and Ethereum ETFs have attracted billions of dollars in institutional capital since their launch in January 2024, making these products among the fastest-growing investment vehicles ever recorded.
Franklin Templeton leads the TradFi segment, ahead of its historical peers, thanks to its aggressive strategy on tokenization and on-chain funds.
Coinbase maintains its top spot in CeFi, closely followed by Binance. Robinhood leads the Fintechs, Andreessen Horowitz venture capital, Tether stablecoins, Chainalysis crypto services, and MARA mining operations.
Why is Hyperliquid’s presence at the top of DeFi significant?
Hyperliquid stands at the top of DeFi with an atypical positioning. The platform operates a decentralized exchange of perpetual contracts on its own layer 1 blockchain, without relying on Ethereum or Solana. This architectural choice gives it performance that traditional DEXs struggle to reach.
The real signal, however, comes from ETFs. In May 2026, the first regulated investment products backed by the native HYPE token were launched in the United States, raising between $75 million and $160 million in their first weeks.
This is a first: a native DeFi token, which is neither Bitcoin nor Ether, attracts institutional flows through a regulated vehicle. This shows that institutional appetite is beginning to overflow the two historically dominant assets.
Fortune actually described this moment as the beginning of an “era of suits and ties in crypto”. The phrase is a bit smooth, but it points to something real.
In sum, the Fortune Crypto 100 crystallizes a trend visible since the approval of Bitcoin ETFs in the United States. Traditional finance giants no longer approach crypto cautiously; they now structure its front ranks.
BlackRock, Franklin Templeton, Coinbase on one side; Hyperliquid, Tether, Andreessen Horowitz on the other. The convergence between TradFi and DeFi is no longer a conference talk. It is quantifiable. To learn more, read our major feature on 2026: the year crypto transforms financial infrastructure.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.