While "Fidelity Investments" introduced a cryptocurrency that increased volumes of CME Bitcoin futures and revealed to Bakkt its intention to implement Bitcoin futures, there was little evidence that institutions made this industry their preferred business.
Institutions now rely on crypto
Bitcoin has long been a retail trend. Cryptocurrency is inherently close to citizens – there is no company or government behind the project. Bitcoin is being developed by individuals all over the world and is currently an asset to the oppressed people.
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But as I said earlier, that is changing. This is to some extent contrary to the guiding idea of the Bitcoin vision cut into stone by an unknown person (Satoshi Nakamoto), but is probably a necessary step for acceptance and growth.
According to one recently published tweet Brian Armstrong, Coinbase's CEO, has no doubt that the institutions are starting to take a sonic turn into the world of cryptocurrencies.
Data confirm this assumption
Based on data available to Coinbase, crypto currencies are purchased between $ 200 and $ 400 million each week from "institutional clients". This is not the only sign that institutions are wetting their toes in bitcoin water.
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As reported by NewsBTC, the new New York-based crypto initiative Bakkt is expected to fully implement its crypto-futures in the coming months. Interestingly, although the hype has disappeared somewhat, Fundstrat Global Advisors claims that there is an "institutional expectation" for the product.
Sam's doctor wrotethat "there seems to be a critical mass of adopters ready to board on the first day of the Bakkt launch," noting that the company's sales force is starting to engage with everyone, including brokers and the market decision makers take action.
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