{"id":375761,"date":"2019-03-23T21:00:18","date_gmt":"2019-03-23T21:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=375761"},"modified":"2019-03-23T05:46:35","modified_gmt":"2019-03-23T05:46:35","slug":"newfangled-crypto-service-institutional-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/newfangled-crypto-service-institutional-bitcoin\/","title":{"rendered":"Newfangled Crypto Service Signals Continued Institutional Interest In Bitcoin"},"content":{"rendered":"

Since Bitcoin (BTC<\/a>) began to falter in early-2018, optimistic investors, many of which are \u201cHODLing,\u201d have resorted to grasping for straws. Case in point,\u00a0 the words, \u201cWall Street\u201d and \u201cinstitutional investors,\u201d are incessantly mentioned, as crypto diehards have sought to find a light at the end of the proverbial tunnel.<\/p>\n

But are institutional stakeholders really here?<\/p>\n

Wall Street Doesn’t Like Crypto?<\/strong><\/h2>\n
In recent weeks, the narrative that institutions and similar entities are flooding into the cryptocurrency space has been overtly questioned.<\/p>\n
The Chicago Board Options Exchange (CBOE), the first issuer of U.S.-regulated Bitcoin futures, shuttered its offering. As reported<\/a> by NewsBTC, this means that by June 2019, the exchange’s clients will have no open interest in any of the cryptocurrency contracts the CBOE offers. While some groups, like media outlet The Block, chalked this closure to the fact that there simply wasn\u2019t enough demand to warrant the continued operation of the vehicle, some were more cynical.<\/p>\n
Joe Weisenthal, a crypto-friendly reporter & anchor at Bloomberg TV, remarked that the “institutional money” cheer, sparked by the arrival of futures and custody solutions, is “one of the most busted narratives of 2018.”<\/p>\n
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The idea that crypto futures (and crypto custody solutions) would unleash a tidal wave of "institutional money" is one of the most busted narratives of the last year. https:\/\/t.co\/13RGkcDcBx<\/a><\/p>\n
— Joe Weisenthal (@TheStalwart) March 15, 2019<\/a><\/p><\/blockquote>\n