CoinShares CSO questions Wall Street’s involvement in crypto
Meltem Demirors, chief strategy officer at asset manager CoinShares, said Wall Street's involvement in Bitcoin was not a straightforward win-win for adoption. According to her, big financial players are set to transform how Bitcoin is seen around the world. Demirors, however, was somewhat skeptical about the centralization that this could cause.
“If we take 50% of the world’s Bitcoin and we put it in custody with a custodian that’s regulated… and we take these Bitcoins, and we put them in a vault somewhere… and then we issue Bitcoin depository receipts — pieces of paper that allow us to trade the underlying Bitcoins sitting in a vault somewhere — but we never actually exchange Bitcoin on the Bitcoin network, is that still Bitcoin?” - Meltem Demirors said.
At the beginning of this year, Demirors expressed confidence that the US Securities and Exchange Commission (SEC) will not approve the launch of exchange-traded investment funds (ETFs) for bitcoin. Indeed, the approval of the ETF for Bitcoin has not happened.
Meanwhile, the number of mentions of institutional investors' interest in cryptocurrencies in the news reached an annual minimum.
22 October, 2019 12:59
← Bittrex International to closing down
Bittrex is all set to launch the Bittrex Global Exchange platform while Bittrex International, which is the Malta-based international unit of the US crypto exchange Bittrex will cease its operation in October 29th.
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