Analysis: ErisX & Bakkt Are All in on the Battle for Institutional Cash
Posted: Thu Oct 11, 2018 6:09 am
Earlier this year, head of crypto merchant bank Galaxy Digital Mike Novogratz said that a “herd of institutional investors” was headed straight for the crypto space.
And indeed, a host of firms sought to create products and services catering specifically to high-volume clients–a slew of applications were submitted (and subsequently denied) by the SEC; Wall Street-backed cryptocurrency hedge funds continue to appear on the scene despite floundering crypto markets. CME’s Bitcoin Futures trading volume hit an all-time high of $572 million in July.
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Still, the huge influx of institutional ... (read more)