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According to the Global Custodian survey, the demand for cryptocurrency is growing; in France, insurance funds were allowed to invest in cryptocurrency. LedgerX has applied for a CFTC.
A survey by Global Custodian showed that only 6% of trust capital funds did not invest in cryptocurrency. In total, 150 organizations that conduct their activities in the UK, Canada and the United States were interviewed.
Moreover, only 54% of respondents bought cryptocurrencies directly. The rest worked with derivatives based on them. And almost half of the respondents speak of an intention to increase the volume of investments in digital financial assets. According to 93% of respondents, in the next year the demand for cryptocurrency instruments will only grow. At the same time, representatives of the foundations noted the presence of a number of infrastructural difficulties in their work. But this did not prevent them from making purchases on the trading floors.
The French National Assembly allowed insurance funds to create "cryptocurrency products." This means that a huge flow of liquidity can now enter the market for digital financial assets. Total funds manage capital at 1.77 trillion Euros.
Remarkable is the fact that the new law was passed by an overwhelming majority of parliamentarians. Only 50 votes were cast against the law, and 147 votes were received for its adoption. Moreover, the new rules do not limit the size of investment in cryptocurrency. Some problems may be caused only by insufficient number of exchange assets. The fact is that large investors prefer to work not with the assets themselves, but with securities based on them.
Insurance and pension funds in the cryptocurrency market
LedgerX filed an application with CFTC for registration of Bitcoin futures deliveries. Unlike most financial instruments, after the expiration of the contract, the buyer will not be able to take profit or loss. He will become the owner of the wallet on the blockchain with the purchased quantity of cryptocurrency.
Trading will be conducted on the Omni platform, and it will be available not only to large investors. Already, the number of LedgerX customers has exceeded 200. However, the Designated Contract Market (DCM) license will allow it to significantly expand their number. Even earlier, Bakkt offered similar delivery terms, but the launch of its platform was postponed to a later date.