Tag: Institutional Investors

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Crypto Markets News

Morgan Creek Capital Management Partnered With Bitwise For A Cryptocurrency Fund For Institutional Investors

The investment advisory firm, Morgan Creek Capital Management, announced the launch of a cryptocurrency fund, in partnership with Bitwise Asset Management, that would include ten crypto coins, including Bitcoin (BTC) and Ethereum (ETH).

This information was disseminated through a press release published on August 28th on the official Bitwise website. The new fund is named the Morgan Creek Digital Asset Index Fund and is designed to provide access to crypto investments to institutional investors.

The new fund will be managed by Bitwise Asset Management, a company founded in 2017 that already has experience in working with cryptocurrencies. It will include in its offer ten cryptos, namely, Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Dash (DASH), Litecoin (LTC), Monero (XMR), EOS (EOS), ZCash (ZEC), and OmiseGo (OMG).

The new Morgan Creek Digital Asset Index Fund dedicated to institutional investors would focus on transparency

Hunter Horsley, the co-founder of Bitwise, explained that the two main considerations that justified the committee’s decision to limit pre-mined crypto are its concerns regarding possible fraud and cryptocurrency regulations. He also added that the new Digital Asset Index Fund is dedicated to businesses and will welcome “accredited institutional investors and approved investors.”

The firm also ensured that the equity value of the ten cryptocurrencies accepted will be transparent and that investors will access the digital portfolio at any time through the organization’s portal where they can also research the team that manages the fund. Also, the cryptocurrency fund will be supervised by Bitwise’s auditor company, which will work together with an advisory committee made up of experts from the partner companies. The results will be published annually starting at the beginning of 2019.

Last July, Bitwise Asset Management also applied with the US Securities and Exchange Commission (SEC) to register the Hold 10 Index, an ETF where it plans to list ten cryptocurrencies.

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Crypto News

Asian Fund Management Company To Launch A Cryptocurrency Custody For Institutional Investors

The Fusang Investment Office, an Asian-based fund management company is focusing on family businesses, plans to launch a cryptocurrency custody service in Hong Kong, according to the South China Morning Post on Sunday, July 22. The custody service, Fusang Vault, will maintain digital assets for clients, in addition to providing regular audits, according to Henry Chong, the company’s CEO. The service is scheduled to be launched in the fourth quarter of 2018.

In comparing digital assets to financial bonds, Chong noted the growing need to provide an independent third party to hold customers’ cryptocurrencies assets, as well as the demand for custodian banking services in conventional finance.

Chong stressed that, since the possession of digital assets lacks a record of ownership data, a cryptocurrency custody service is of “vital importance.”

Digital assets resemble bearer bonds, so whoever holds the security is presumed to be the owner and there is no record of ownership information about the security. Therefore, how we keep our digital assets protected is of the utmost importance.

Fusang Investment Office to launch a cryptocurrency custody platform for institutional investors such as Coinbase did

Fusang’s CEO added that the firm is already working with insurance companies to safeguard clients’ digital assets, without specifying the features of the next Fusang Vault service.

According to its website, the Fusang Investment Office is regulated by the Monetary Authority of Singapore and authorized by the Hong Kong Securities and Futures Commission.

In early July, Coinbase, one of the world’s largest cryptocurrency exchange platform, launched a cryptocurrency custody solution for institutional investors. The custody platform of Coinbase is operated by an independent member of the United States Financial Industry Regulatory Authority (FINRA) in compliance with the United States Securities and Exchange Commission (SEC).

In general, cryptocurrency custody solutions aim to bring in more institutional investors in the cryptocurrencies market.

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Crypto News

Institutional Investors To Play A Significant Role In The Crypto Market, Says The Coinbase VP

Coinbase Vice President and General Manager Adam White, during a recent interview, asserted that institutional investors would play a significant role for the crypto market since they see cryptocurrencies as a reliable investment asset. This statement is indeed a very bullish assertion regarding the future of the crypto-verse.

During an interview Adam White held at CNBC’s Fast Money talk-show, the Coinbase VP stated that the retail investors hit the breaks, letting institutional investors step in to take the significant role of becoming the primary investors in the cryptocurrencies market.

The role of institutional investors would be a significant one within the crypto market, in the future. To prove its statements regarding the switch from retail investors to institutional investors, Adam White presented Coinbase cryptocurrency exchange figures and new products.

Accordingly, Coinbase chose to invest in new crypto-related services and product, as well as in the new Coinbase Custody platform, specially designed for institutional investors.

Institutional investors will come in large number when the crypto market transparency increases

According to Adam White, Coinbase cryptocurrency exchange platform’s VP, increased crypto market transparency would attract more and more institutional investors. He also added that lowering cryptocurrency regulations’ ambiguity and full compliances with crypto-related legislations would benefit the emergence of increasingly more institutional investors in the market.

We have a long-term vision for space. And we are focused on building the exchange, the wallet, the custodian, that allows capital to move into space.

Adam White, Coinbase Vice President and General Manager

Coinbase cryptocurrency exchange platform introduced the Coinbase Custody service dedicated to institutional investors, among the first platforms in the world.

The emergence of institutional investors would indeed increase the cryptocurrencies trading volumes and would bring the crypto market to the next level, which could mean increased adoption and, above all, higher cryptocurrencies values against the USD.

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Crypto News

Are We Witnessing Another Bitcoin (BTC) Bull Run?

Bitcoin (BTC) trades at about $6,735 after surging by about 2.60% in the last 24 hours. However, according to the majority of crypto investors, BTC must break above the $6,900 level to keep on rising. But, are we witnessing another Bitcoin (BTC) bull run?

According to the same experts, Bitcoin (BTC) might break above the $6,900 level very soon, and since that is achieved, BTC would surge even more towards $7,500 and then to $8,000.  And, more important, the technical analysis of Bitcoin (BTC) charts are matched by the current positive news regarding BTC, in this case.

Therefore, the latest news regarding the Bitcoin (BTC) futures, BlackRock involvement in BTC, and the emergence of institutional investors are all meant to help the leading cryptocurrency in the world by market cap to commence a new bull run.

Bitcoin (BTC) futures

The general sentiment characterizing the cryptocurrency enthusiasts and the Bitcoiners out there is that the US SEC will approve the Bitcoin (BTC) futures trading, recently filed by the CBOE.

And SEC might indeed approve it, following the models already established by more crypto-friendly countries, such as South Korea, Malta, Japan, Thailand, Germany, and Canada, among others.

Many predict that the SEC will approve it in August, triggering a true Bitcoin (BTC) bull run.

The BlackRock ETF trading platform involvement in cryptos and blockchain

Recently, BlackRock, the world’s leading ETFs trader, announced it would like exploring the advantages of the cryptocurrencies market and blockchain technology, and even mentioned Bitcoin (BTC) as their primary point of interest. Thus, BTC price surged by about $400 in less than a day, jumping from about $6,200 to approximately $6,400.

Institutional investors could boost the Bitcoin (BTC) trading volumes

Lately, the institutional investors showed a higher interest in the cryptocurrencies market and, on the other hand, some cryptocurrency-related platforms, such as Coinbase, started to provide specialized platforms for this type of investors who can skyrocket the trading volumes not only for Bitcoin but also for other cryptos.

One good example is the emergence of the Swiss SIX stock exchange into the cryptocurrencies market.

All these pieces of the puzzle, if placed together, yield a considerable opportunity for a new Bitcoin (BTC) bull run.

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Crypto

Bittrex Cryptocurrency Exchange Introduces US Dollar Transactions For Institutional Investors

The CEO of Bittrex, Bill Shihara, announced that Bittrex will provide the facility for a number of its institutional investors to acquire cryptocurrency with US Dollars but only within a few US states.

To date, the Bittrex cryptocurrency exchange platform has only permitted exchanges between cryptocurrencies, without the possibility of trading in fiat money. To make this new service a reality, they concluded a banking deal with Signature Bank, a New York-based bank, that will be in charge of holding the company’s funds in USD.

As Bill Shihara informed on a Bloomberg interview he held on May 31st, he considers this settlement to be more than just a vow of trust to Bittrex, namely, a vote of confidence towards cryptocurrency.

It’s not just about banks being able to trust Bittrex. It’s about banks being able to rely on cryptocurrency in general. And I think this is really proving that cryptocurrency is just around the corner in terms of mass adoption.

Bill Shihara, the Bittrex CEO

Shihara believes that the new agreement with Signature Bank will attract more institutional investors the Bittrex cryptocurrency exchange platform

Shihara said the bank’s openness to partnering with Bittrex is not just an excellent chance to draw new institutional investors but is also a major milestone in upgrading the cryptocurrency exchange platform’s security protocols.

They want to make sure we have robust AML/KYC processes, that we have the right controls on our finances. They do background checks and everything.

Bill Shihara, the Bittrex CEO

The CEO also stated that Bittrex intended to provide USD transactions for a number of Bittrex clients since early February but they opted to wait until everything was perfectly planned and now since they dealt with Signature Bank from New York, the cryptocurrency exchange platform was able to introduce UDS transactions, a decision which is considered to attract more and more institutional investors.

Shihara had also indicated that because of the customers they handle, only institutional investors will be eligible for this type of transaction.

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