Kraken crypto exchange CEO Jesse Powell has said that a large number of both retail and institutional investors have opened accounts with them. This shows that all types of investors are concerned about the current economic condition, hence they have been diversifying their portfolio using cryptocurrencies. The influx of institutional money is a positive sign because it will give confidence to the other institutions to take the plunge.
WisdomTree Investments (NASDAQ:WETF), a New York-based asset manager has sought approval to launch an exchange-traded fund that plans to invest about 5% of its net assets in cash-settled Bitcoin (BTC) futures and the rest in four commodity sectors. If the ETF receives the regulatory nod, it would be a huge positive.