Sui Chung 1 Major financial institutions are taking notice of cryptocurrency

Major financial institutions are taking notice of cryptocurrency

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– Traditional financiers are increasingly coming to conversations demonstrating that theyve done their digital asset homework, CF Benchmarks CEO sa
– CF Benchmarks has been fielding more calls from traditional financial institutions during the crypto winter than the crypto index provider received during the bull market.
– Some fifteen months ago, much of CFs engagement with Wall Street stemmed from asset managers looking to license its bitcoin pricing product for upcoming hopeful spot bitcoin ETFs, CEO Sui Chung told Blockworks.
– With one particular firm a very old asset manager with a trillion dollars-plus in AUM we had some discussions about dapps [decentralized applications] that I must admit were on the periphery of my vision.
– By definition, BlackRock talks to more institutions than anyone else, because its the biggest asset manager. So, BlackRock has clearly talked to enough institutions who showed very genuine interest to be launching this.
– The demand from investors for a spot bitcoin ETF is obviously there. Thats not a secret. Whether the SEC will not reject oneremains to be seen.
– The [ether] futures on CME continue to be ever more liquid, and theres ever more trading volume. As long as an issuer is confident enough that they can convince the SEC that they can create and redeem unlimited quantitiesand that the ether futures market is liquid enough to accommodate that, its a matter of when the market meets that test, and thats it.
– People use the term crypto industrybut we both know that theres kind of no such thing. Theres just a bunch of companies doing what theyre trying to do. Some of them do it very well and have been doing it a long time and are very large and have processes, have controls Im talking about the Coinbases and Krakens.

 

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