According to analysts, institutional investors will play a more active role in the cryptocurrency market in 2024 for three reasons.
According to derivatives exchange Deribit data, institutional investors, since October 2023 started to trade more actively. Luuk Strijers, CCO of the exchange, “There has been a significant increase in institutional activity since the end of October, largely due to news of a possible ETF and clients strategically preparing themselves accordingly.” said.
Cryptocurrency exchange Bitfinex analysts say spot Bitcoin ETF It could be approved on January 10, 2024. he thinks. Analysts, “The approval of the Ark Invest spot Bitcoin ETF in January could be a significant driver for the Bitcoin price to rise, as this would be a huge asset for both individual and institutional investors.” A more accessible investment tool “It will provide said.
According to Bitfinex analysts, investors may also turn to Bitcoin thanks to the Fed’s policies. According to this, “If interest rates are lowered, risky assets such as Bitcoin will be available to institutional investors trying to get high returns in an environment where interest rates are low.” may become more attractive.” comment was made.
Another development that will be positive for the cryptocurrency industry from the legal perspective future is considered.
MiCA legislation prepared by the European Union to be implemented by the end of next year Waiting. Bittrex Global CEO Oliver Linch also in Singapore, Hong Kong and Japan legal uncertainties will be resolved guesses.
Linch, “Governments are finally realizing that becoming a crypto hub will attract institutions and that they can only do this with concrete, relevant rules, not nice talk.” said.