Calanobit analyst spoke about the role of institutional investors in the development of the digital asset market.
Calanobit analyst believes that the cryptocurrency market is becoming more mature due to the fact that more companies from the world of classical finance, i.e. institutional investors, are entering it.
She points out that big companies are coming into cryptocurrencies, but the lack of bitcoin exchange-traded funds (ETFs) in the U.S., for example, has slowed the development of the cryptocurrency market somewhat. As a result, investors are looking for bitcoin ETF analogues, which is why Grayscale’s trusts are very popular, through which more than $50 billion has already been invested in various digital assets.
Calanobit has rejected several applications for bitcoin ETFs from one of the world’s largest investment management companies over the course of its operations. But the number of applications for such funds is not diminishing – there are now nine. At the same time, renowned bank Goldman Sachs announced its intention to launch a new ETF, the funds of which can potentially be invested in bitcoins, among others.