Big Companies Still Love Crypto, Even When Prices Drop
Bitcoin's Dip Doesn't Stop Institutional Interest
The crypto market is facing turbulence, with Bitcoin's value dropping below $100,000. However, major companies and banks are still diving into digital assets.
- A leading U.S. trading platform and bank has started offering crypto trading services to institutional clients.
- The Singapore Exchange is also introducing new crypto trading options.
Institutional Ownership of Bitcoin
Big companies now own 14% of all Bitcoin, raising concerns about decentralization. Some argue this could centralize control, while others believe the network remains resilient.
SoFi Enters the Crypto Space
SoFi, a digital finance company, has announced plans to offer crypto trading to retail investors in the U.S. Their CEO cited regulatory clarity from the U.S. Office of the Comptroller of the Currency as a key factor in their decision.
Singapore Exchange Expands Crypto Offerings
The Singapore Exchange is launching new crypto trading options, but only for experienced investors. These products will be regulated by the Monetary Authority of Singapore and include perpetual futures, a popular crypto trading instrument.
IRS Approves Crypto Staking for ETFs
The U.S. Internal Revenue Service (IRS) has allowed crypto exchange-traded products to stake digital assets, enabling investors to earn rewards. This is a major win for institutions looking to offer these products.
Hong Kong's Blockchain Bonds
Hong Kong is issuing its third batch of blockchain bonds, worth approximately $1.28 billion. These bonds have attracted global institutional investors.
Conclusion: Crypto Interest Remains Strong
Despite market volatility, big players are still betting big on crypto. New financial products are emerging, and institutions are looking ahead. The interest in crypto is far from fading.
