Coinbase’s senior advisor John D’Agostino has said that institutions are adopting crypto currencies and other digital assets at a “very, very fast” pace.
D’Agostino can attest that there has been a very strong interest from institutional investors into the digital space. In an interview earlier this week he outlined how institutions are engaging with the sector.
He noted that while perceptions differed, the rate of adoption by institutions was actually very quick. D’Agostino mostly took how fast institutions advance in the new industry in the context of their own pace, suggesting that such entities are usually known to be reluctant to change and to spend long periods of hesitance and research before they dip a toe.
This is going at a much faster pace for cryptocurrencies, argues D’Agostino, a trend that is partly ushered in by the strong interest by retail investors and consumers who are making it hard for institutions to hold out.
However, there are a lot of regulatory wrinkles that need to be ironed out first. D’Agostino said that there is a bifurcated regulatory regime with the US Securities Exchange Commission (SEC) on the one hand, and the Commodity Futures Trading Commission on the other.
He suggested that despite regulatory pushback there were certain things that were inevitable – such as a crypto-related exchange traded fund that is backed by a regulator – most likely the SEC.
D’Agostino explained that institutions are still tiptoeing around whichever regulator they think will end up being the dominant one.
This means that they need to also adapt and shift, which is another reason why the advisor think that institutions are in fact showing incredible proactiveness in the matter rather than trailing events.
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