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Digital Assets Deliberations: The Role of ISINs in Relation to Digital Assets

Published 07/05/2020, 11:00 AM
Updated 07/05/2020, 12:40 PM
Digital Assets Deliberations: The Role of ISINs in Relation to Digital Assets
BTC/USD
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Institutional interest in digital assets has been growing. The Chicago Mercantile Exchange’s volume of Bitcoin (BTC) options hit a high of $40 million on May 13, 2020. The world’s largest digital currency asset manager, Grayscale, posted record-breaking capital inflow to its GBTC fund in Q1 2020, and Fidelity’s cryptocurrency services division confirmed increased interest from pension funds and family offices.

Due to growing interest from financial institutions examining how to leverage blockchain technology for security issuance, industry and regulators alike have turned their attention to assigning International Securities Identification Numbers for digital assets. This standardization is necessary in order for firms to ensure consistency, gain efficiencies, increase transparency and lower costs.

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