Cryptocurrency markets are going through difficult times now, but fortunately, some see the future painted in bright colours. An executive from a major UK charity fund believes that the current market crash is only a “bump in the road”.
James Bevan, the chief investment manager at CCLA, told the audience at the Bloomberg Crypto Summit in London last Friday that he believes the recent crisis to be “a bump in the road”. In his opinion, it isn’t “an existential crisis”. Bevan continued that in traditional finance the “institutional investors have had plenty of bumps in the road in conventional currencies and transaction systems.”
CCLA is one of UK’s largest fund managers with £7,8 trillion (almost $10 trillion) in assets under management as of March.
During the Crypto Summit, Bloomberg also stated that “the future of cryptocurrencies will entail greater regulation, more involvement by large institutions, lower volatility and greater integration with traditional assets.”
The institutional investors are slowly arriving at the crypto-sphere. Nasdaq recently confirmed a launch of Bitcoin futures sometime in the first half of 2019.
The launch is currently awaiting approval by the United States Commodity Futures Trading Commission, however, Nasdaq is positive that the question of regulatory approval is academic due to the amount of work put into the preparations.
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