The crypto market could rise in the last few weeks, although the exact reasons are still a mystery. Major investors like the Rockefellers and George Soros may have played a part. A new study shows, however, that in the year 2018, 20% of the world’s financial institutions in the crypto-currency business could enter.
We we already reported, could have caused (among other things) the entry of the venture capital firm Venrock, as well as the Investment of George Soros for an increase in the crypto market.
A recent study conducted by Thomson Reuters, indicates that this year could get a large number of financial institutions, almost 20%, in the crypto-currency business. 70% of the companies that want to enter this year, will go this step, according to the study, in the next 3 to 6 months. A further 22% Planning a longer-term entry within a time horizon of 6 to 12 months.
The survey was conducted among more than 400 clients in all commercial solutions from Thomson Reuters including Eikon, REDI and his FX-platforms.
Neill, Penny, Deputy head of trading division at Thomson Reuters, points out that the crypto market has to be viewed in comparison to the global trade market as a small niche market. Nevertheless, the development is translated in comparison to the previous year, clearly visible (for free):
The cryptocurrency market is still a relatively small part of the retail market, but this survey shows that this niche segment of entry gradually into the Mainstream of the financial services industry. This is a big change compared to the previous year.
The study shows that the crypto-currency adaptation progressing gradually and the institutional investors could enter the market. Whether the percentage will move in the practice also of this order of magnitude, it is at this point.
Nevertheless, there seems to be a change in the crypto market and the capital inflow since a few weeks. Is rumored to be expanded the OTC (Over-the-Counter) Trading Desk at Goldman Sachs, is a point of contact for institutional investors, is in the digital Assets to enter.
Although the Pressepsprecherin of Goldman Sachs, said in an Interview that that the interest of the customers is being investigated, however, flared up last Friday, once again a heated discussion about it, because Justin Schmidt was brought into the company and the Position of the head of the Digital Asset Department will compete. Justin Schmidt was previously Vice President at Seven Eight Capital and has years of experience in the trade of Digital Assets.
While this is still no early evidence that the OTC Desk will soon be offered directly in the case of Goldman, however, the current arrangements strongly suggest a near-term implementation.
If this trading marketplace is released in the case of Goldman Sachs, then you could promptly flow very quickly and in a very large amount of new capital into the crypto market. These are, however, pure speculation, so it remains to be seen what developments we will see in this area.
The crypto market is experiencing at the time of writing a minor correction, within just two hours of almost 28 billion dollars from the market are gone. The market capitalization currently stands at 405 billion dollars.
The next time will show in which direction the market will develop.
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