In the aftermath of recent SEC enforcement proceedings, some institutional investors are exhibiting a bullish view toward Bitcoin.
A poll by Laser Digital, a Nomura-backed digital asset company, found that 96% of professional investors were enthusiastic about investing in cryptocurrencies. Nomura, an investment bank and brokerage with headquarters in Tokyo and operations in 30 countries, manages assets worth around 67.3 trillion ($475.4 billion).
The study results show a considerable interest among professional investors in the cryptocurrency market, underscoring the rising acceptance and acknowledgment of cryptocurrencies as an asset class for investments. With such a large number of investors indicating a desire to invest in cryptocurrencies, it is clear that the investment community is becoming more and more interested in and adopting digital assets.
Renewed institutional crypto interest
A massive $4.95 trillion in assets were jointly managed by the 303 professional investors that participated in the Laser Digital study. The survey found that 82% of these investors had a favorable opinion of Bitcoin and Ethereum, demonstrating a significant belief in the future of these well-known cryptocurrencies. Further highlighting the increased interest in digital assets within the professional financial community, 88% of respondents said they or their clients were thinking about making investments in cryptocurrencies.
The survey’s findings demonstrate how professional investors generally have a bullish outlook on cryptocurrencies, especially Bitcoin and Ethereum. With such a significant portion of investors expressing a positive outlook and considering investments in the crypto market, it demonstrates the increasing acceptance and recognition of digital assets as a viable investment option in traditional financial portfolios.
The overall market capitalization of all cryptocurrencies reached a local low of $1.01 trillion on June 15th as a result of the SEC’s actions, which caused a market panic and a $133 billion sell-off.
BlackRock Bitcoin ETF
By applying for a spot Bitcoin exchange-traded fund (ETF) on June 15th, multinational asset manager BlackRock made news while rejecting the general bearishness toward cryptocurrencies and ongoing regulatory enforcement actions. One of the biggest financial organizations in the world, BlackRock, has made a key move that is thought to open the door for further institutional interest in Bitcoin.
The CEO of the Bitcoin rewards app Lolli, Alex Adelman, believes that Wall Street’s renewed interest in Bitcoin is a result of the BlackRock ETF application and expects a subsequent upsurge in Bitcoin-related financial products.
Within the crypto world, the BlackRock ETF registration has prompted discussion and division. Some see the increased institutional participation as a good thing for the Bitcoin ecosystem. They cite BlackRock’s outstanding history of obtaining regulatory approvals for comparable applications in the past as evidence.
Not everyone, meanwhile, is upbeat about the chances of the BlackRock ETF being approved. Due to the application’s proposed structure being “functionally identical” to other petitions from other asset managers that have all been denied, litigator Joe Carlasare expressed doubt and said he would be astonished if it were accepted.
A significant advancement in the ongoing efforts to introduce a Bitcoin ETF to the market is the BlackRock ETF file. The outcome of BlackRock’s application will be widely followed as the crypto business develops further and regulatory frameworks are improved. If accepted, it might mark a significant turning point in the use of cryptocurrencies on a larger scale and draw a fresh group of institutional investors to the Bitcoin market.