“If institutional funds enter Bitcoin, what will it become?”

CoinShares Strategy Director Meltem Demirors doubted that the popularity of bitcoin among institutional investors would benefit the wider community.

In an interview
With RealVision, Demirors noted that if Wall Street money flows into cryptocurrencies, it will not necessarily be a positive factor for bitcoin in the long run. Many believe that Bitcoin is not missing just a lot of money in order to grow to new heights, but Demiors does not share this opinion.

“If, say, 50% of the available bitcoins will lie in regulated custodial services. Then we will use depositary receipts for bitcoin – pieces of paper that will allow us to trade the original asset that is in the store. But in fact, we will not exchange bitcoin itself and use the network of the first cryptocurrency. And will Bitcoin remain itself then? ”, Asked the chief strategist of the cryptocurrency asset management group CoinShares.

At the beginning of this year, Demirors expressed confidence that this year the US Securities and Exchange Commission (SEC) will not approve the launch of exchange-traded investment funds (ETFs) for bitcoin. Indeed, until now, the approval of the ETF for Bitcoin has not happened.