The crypto market has been struggling since topping out in June but this does not mean institutional interest in crypto has diminished. The Chicago Mercantile Exchange (CME) Group tweeted that customer interest in CME Bitcoin (BTC) futures remained strong in Q3 2019 compared to Q3 2018. The total increase in open interest during this period was about 61%, which shows that the involvement of institutional traders is on the rise.
Similarly, digital asset manager Grayscale Investments reported that its products received a total investment of $254 million in Q3 2019. That was a sharp increase over Q2 2019 when the investment amount was $84.8 million. 84% of the investments came from institutional investors, which shows that they continue to accumulate on dips.