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Cryptocurrency market in anticipation of institutional investors

11/21/2018
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Large investors are changing their attitude to cryptocurrencies, which is evident from the heightened interest in creating new trading tools and platforms. Solutions from industry leaders such as the NYSE, Bakkt, Starbucks, Microsoft, Boston Consulting Group and others are emerging. However, there are several problems that prevent the use of new products.

Progress in the cryptocurrency market is inevitable

Several important news came from major financial market players. Bakkt, the operator of the New York Stock Exchange, decided to postpone the launch of its trading platform. The problem arose with the regulator, which has not yet given permission to use the tool BakktBitcoin. However, they are sure that they will be able to find a common language with the department, and as early as January 2019, it is planned to start full-fledged work.

No less interesting news came from VanEck. One of the leaders of the financial industry launches the composite index “US OTC Spot Index”, which is tied to the Bitcoin rate. Prior to this, the company had already tried to create a similar product, but could not agree on its use. Now errors are taken into account, and the index will be more stable. The fact is that the data on quotations will come from three trading platforms at once. And they all have licenses from CFTC.

What to expect next

When developing the concept of cryptocurrency, Satoshi Nakamoto tried to avoid involving the state and the major players in the process. However, now they themselves have understood what prospects the blockchain provides. Banks have noticed a loss of profit because some customers have moved into the digital economy.

A major expert from the world of finance, Mike Novograz, believes that in the second quarter of 2019 the main technical problems will be solved. And then the funds and banks will begin to massively replenish their investment portfolios with cryptocurrencies. While they can not do it because of the unresolved number of technical problems.

In particular, they can not offer an absolutely reliable place to store coins. Exchange platforms limit the size of operations, which makes cooperation with them problematic. Ordinary Bitcoin wallets seem to institutional investors not a reliable way to protect capital.

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