Main Takeaway: More Crypto Adoption From US Financial Institutions
All the major cryptos are flat d-o-d. However, there’s been a piece of major news regarding crypto adoption from major US banks, in particular BNY Mellon. BNY Mellon just announced that it will be launching a digital asset custody platform for its clients to invest in Bitcoin and Ethereum.
The bank recently held a survey that concluded over 90% of institutional investors are interested in tokenized products and over 40% hold crypto in their portfolio today. The main takeaway should be that regular traders and retail investors should watch closely what institutions and banks like BNY Mellon are doing with crypto. This will be the most reliable indicator of where the future lies for the industry. Recently, we’ve seen Google, Fidelity, and BlackRock get into the game. This means that it’s still early, especially as prices remain at discount levels.