CoinShares found a significant increase in hedge funds and wealth managers survey respondents who have allocated to Solana compared to earlier this year.
DeFi’s ‘unknown and unpredictable’ risks curb institutional use — Fireblocks VP
Institutions are keen on DeFi, and its use among them is growing, but on-chain risks are hamstringing further adoption, says Fireblocks’ Shahar Madar.
Coinbase narrows loss while crypto trading volumes fall in Q3
Despite seeing falling trading volumes, Coinbase said they were “pleased” with how the quarter played out.
Bitcoin’s Recent Outperformance Fueled by Institutional Demand, JPMorgan Says
There has been a significant bitcoin inflow into larger wallets, which suggests institutional investor demand, the report said.
Europe drives institutional crypto adoption: Blockchain Expo Amsterdam
Conversations with key speakers at the Blockchain Expo in Amsterdam suggest that cryptocurrency exchanges and companies see Europe as a key region for growth.
Crypto Custody Firm Ledger Introduces Institutional-Grade Trading Network
The network has a range of partner firms, including Crypto.com, Bitstamp, Huobi, Wintermute and Komainu.
Firms managing $27T in assets are embracing crypto: CoinShares CSO
The top eight financial institutions with an interest in Bitcoin and crypto have a whopping $27 trillion in combined assets under management.
Investors want crypto, but not without TradFi backing: Nomura survey
A Nomura Laser Digital survey has revealed the majority of institutional investors polled are still keen on crypto.
US regulatory crackdown leads to $32M digital asset outflows: CoinShares
Institutional investors are feeling the heat as the SEC targets all aspects of the crypto industry in the United States.
The blue fox: DeFi’s rise and the birth of Metamask Institutional
The popularity of decentralized finance played an integral role in the launch of MetaMask Institutional as companies looked to safely enter the space.
Institutional appetite continues to grow amid bear market — BitMEX CEO
Institutional appetite for Ethereum will grow now that the network is ESG compliant, according to the BitMEX boss.
Institutions are exploring the space — KPMG Canada crypto team
Kareem Sadek and Kunal Bhasin said the team had seen “a lot of momentum” around the tokenization of assets but was also considering the potential growth of NFTs and the Metaverse.
DeFi to reach mass adoption via institutional participation, DEX founder says
The DeFi industry must address scalability, liquidity and gas issues before serving more users, said Eric Chen, CEO and co-founder of Injective Labs.
Green shoots? Institutional crypto funds see first inflows in 5 weeks
Nearly $14 million has been returned to BTC institutional funds over the past week, but Ethereum-based products are still seeing major outflows.
Okcoin reports altcoins drove institutional interest in crypto for 2021
The recent purchasing behavior of institutional investors contrasts with that in 2020 and earlier, when “institutions exclusively favored altcoins that were at least four years old, such as Ether and Litecoin.”
Bitcoin investment products still suffering outflows despite price recovery
While institutions are still withdrawing capital from Bitcoin investment products, money is flowing into Ethereum and altcoin products.
Institutions continue offloading BTC exposure despite price rebound
Bitcoin funds are still in decline as institutional sentiment remains bearish.
Fidelity Digital Is Expanding Workforce By 70% Due To Crypto Demand
The institutional buy-in through major banks and adjacent firms continues this week. Fidelity Digital is the company’s enterprise-grade solution for digital assets. In a recent story first broken by Bloomberg this week, crypto demand is leading the Fidelity division to expand staffing by roughly 70%.
Fidelity Digital: Doubling Down
The report cites an interview with Fidelity Digital Assets president Tom Jessop, who specifically called out Ether as a high-interest product in particular.
Jessop noted that 2020 was “a real breakthrough year for the space, given the interest in Bitcoin when the pandemic started.” He added that the firm has seen “more interest in Ether, so we want to be ahead of that demand.”
In present day, the digital division currently only offers custody, trading, and select services for Bitcoin; however, the asset list seems likely to expand, and Jessop also cited the firm’s desire to offer crypto trading “full-time for most of the week.”
Fidelity Investments is a Boston-based firm that oversees over $10T in assets under management. The expansion for the Fidelity Digital team is likely to result in hiring as many as 100 employees throughout Boston, Salt Lake City, and Dublin. The hiring spree will come on the heels of a November expansion late last year that brought in more than twenty engineers for development of the division’s trading and custody services.
In the first half of this year alone, Fidelity has filed for a Bitcoin ETF and announced Sherlock, an analytics tool for institutional investors in digital assets. The powerhouse investment firm also has a partnership with BlockFi, which enables institutional customers to leverage Bitcoin as collateral against cash loans. Fidelity has also made investments in firms such as Circle, the USDC stablecoin issuer. Circle is on the cusp of going public in a SPAC deal valuing the firm around $4.5B.
Meanwhile, outside of the US, the firm has also partnered with UK-based broker TP ICAP and Zodia Custody to launch a crypto trading platform.
Related Reading | Central Bank Of Portugal Approves Licenses For Crypto Exchange
Institutional Integration
In recent weeks and months, institutions such as banks and credit cards seem to continue to hit the headlines with increasing initiatives in cryptocurrencies. In the past week alone, Swiss bank Sygnum has launched Ethereum 2.0 staking, Visa reported over $1B in crypto-card spending this year thus far, and a bank in Ukraine announced the launch of a Bitcoin trading feature.
Venture capital firms also continue to pour money into the crypto space, including the likes of crypto-dedicated firms.
BTC has been the horse and carriage for Fidelity Digital Assets service offerings, but that could soon be expanded as customers diversify in digital asset demands. | Source: BTC-USD on TradingView.com
Related Reading | How Coinbase, Square, And Fidelity Will Support Bitcoin
Featured image from Pixabay, Charts from TradingView.com
Survey: 40% of institutional crypto investors intend to buy a lot more
More than 80% of institutional investors polled that have already invested in digital assets expect to increase their exposure.
Aave to launch permissioned deployment for institutions in July
In response to “extensive demand from various institutions,” Aave’s permissioned deployment will go live this month.