While the majority of eyeballs were on BTC ETF for big money to come into cryptos, institutions investors seem to have found their way to be involved in the $220 billion cryptocurrency market. According to Bobby Cho, global head of trading at Cumberland which is a Chicago-based cryptocurrency trading unit of DRW Holdings LLC that handles the over-the-counter purchases was quoted by Bloomberg saying that institutional buyers such as hedge funds have replaced high-net-worth individuals and have claimed the top spot as biggest buyers of digital coins. The investment sizes, according to Cho, for these large chunks of cryptocurrencies that these institutions are would be worth more than $100,000 through private transactions.
No More Waiting for Bitcoin ETF as Institutional Start Buying Cryptocurrencies in OTC Markets
While the world was expecting the Bitcoin ETF to be a doorway for institutional money to come into the cryptos it seems like institutional have found their way despite the uncertain that looms of the BTC ETF. Well a recent OTC Trade Data Shows Institutional Investors Now Dominate Bitcoin Markets with High Volume Trades
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