Analysis: ErisX & Bakkt Are All in on the Battle for Institutional Cash

[kreslik.news]

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)