Coinbase shows that the institutional interest has set up
Coinbase shows that the institutional interest has set up
- Coinbase has reported that the institutional stocks between December 31, 2020 and the first quarter of 2021 have increased from $ 45 billion to $ 122 billion
- Goldman Sachs combines the enormous institutional interest with Fear of Missing Out (FOMO).
Coinbase Global Inc, an American company that operates the CryptoBörse Coinbase, has Coinbase Custody was founded in 2018 and has over 8,000 institutional customers, including asset managers, hedge funds, pension funds and foundations.
The head of the hedge fund sales at Coinbase, Drew Robinson, has revealed that the increasing interest in the increasing general understanding of crypto economy and the introduction of crypto ETFs is due.
In the past 12 months we have seen a growing interest of institutional investors who want to use the crypto room. This year, however, the interest of pension funds and hedge funds rose suddenly.
The other known factors that have contributed to the higher institutional interest is, according to Robinson, the ability of crypto-assets to secure themselves against inflation.
Diversification of company balance sheets and the desire for a broader commitment in the digital economy, including areas such as payment transactions, salary billing and cross-border payments. Customer demand also plays an important role.
survey by Goldman Sachs shows increasing institutional interest
The report by Coinbase is a confirmation of an earlier survey that Goldman Sachs carried out through its institutional customer base. The response from 280 customers showed that 40 percent were already exposed to cryptocurrencies either via physical products, derivatives, securities products or other market offers. They also showed that corporate treasurer showed interest in two different aspects: to invest in Bitcoin in their balance sheets and to consider it as a payment mechanism.
In terms of institutional demand, we have not seen any signs that this would decrease ... We see an enormous institutional demand, [and] This is also reflected in the area of private wealth management.
Goldman Sachs also combined the enormous institutional interest with Fear of Missing Out (FOMO). According to the analysts, crypto prices have increased so much this year despite the current withdrawal that has influenced most institutions for market entry.
However, it has been reported that some asset managers and investment funds have not yet invested because they are not authorized to invest part of their portfolio in cryptos. Some still have to convince their respective committees with regard to the nature and goal of the company.
Source: Crypto-news-flash.com
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