CoinShares is seeing growing interest from U.S. financial giants in the digital currency market.
According to the company’s director of strategic development Meltem Demirors, cryptocurrencies are of particular interest to giants that manage up to $27 trillion in assets.
At least eight U.S. financial institutions are considering options to enter this market through cryptocurrencies. One of the highlights of June was BlackRock’s application to issue a spot bitcoin ETF sent to the U.S. Securities and Exchange Commission (SEC).
In addition to BlackRock, some major banks are willing to give their clients access to digital assets. The list includes JP Morgan, Morgan Stanley, Goldman Sachs, BNY Mellon, Invesco and Bank of America.
Meltem Demirors stressed that bitcoin is the main asset that U.S. institutional investors are focused on. However, in parallel, companies and banks are ready to test opportunities of leading altcoins.
We are witnessing a process of mass entry of U.S. giants into the digital market. This trend intensified in June after bitcoin soared above $30,000.
CoinShares’ top manager believes that if the cryptocurrency strengthens, the number of companies and banks willing to give their clients access to BTC and other virtual coins will increase.