‘Wall Street’s Crypto King’ Bart Smith is expecting institutional investors to move into the cryptocurrency market once regulations are clarified.
Institutions Need Regulatory Certainty
Smith runs the investment firm Susquehanna International Group which started investing in Bitcoin in 2014 and expanded in 2017 during the crypto boom. He said that the company trades on average $200 million a day on Bitcoin futures. Smith told CNBC that institutional investors are waiting on regulatory clarity which will allow the floodgates to open.
“[Regulatory] clarity will allow institutions to come in more than anything else because institutions don’t like to invest into uncertainty. So we’re just taking the most conservative approach that we can,” said Smith.
The crypto market is both volatile and loosely regulated. This means the majority of investors are individuals as they do not have to worry about compliance issues and stakeholder’s opinions. Some banks have started dipping their toes in the water, such as Santander creating a financial payments app with Ripple and Barclays launching a venture capital fund into emerging technologies. However, it appears that the lack of regulation is holding up entry to the market.
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