Institutions lean into crypto despite Bitcoin price slump
Institutions across the globe are adopting cryptocurrency, offering new services and buying into blockchain tech, despite slumping Bitcoin price.
Markets are in a slump, with Bitcoin’s (BTC) price sinking below the $100,000 threshold. Despite a downward correction in markets, institutions continue to adopt digital assets in their operations.
In the US, a major digital trading platform and chartered bank has opened crypto trading to institutional clients. The derivatives arm of the Singapore Exchange is getting into digital assets as well, opening up perpetual futures trading in crypto.
Policy changes have allowed some firms to offer crypto exchange-traded products (ETPs), expanding the availability of crypto-related institutional financial products.
