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机构投资者将如何改变数字货币市场?

全新的互联网金融模式国际资讯

机构投资者将如何改变数字货币市场?

近日有消息称,大型机构玩家已经陆续加入到了加密货币的竞赛中。比如彭博社就曾报道,一些对冲基金和捐赠基金等大型买家已经通过私人交易的方式购买了价值超过1亿美元的数字货币。

另外,矿工们也通过场外定期进行加密货币的销售。一些挖矿公司甚至建立了自己的流动性部门和业务部门来容纳从2.5亿至300亿美元的交易规模。

在此之前,由于加密货币价格的较高波动性,大型投资者一直选择远离这一投资领域。但是随着今年比特币和以太坊的价格似乎正在变得更加稳定,越来越多的传统金融机构开始把加密货币资产纳入到了分散投资的组合当中。

其实对于个人投资者来说,大型机构玩家的这种积极态度也为他们提供了一系列新的机会。

新的加密投资产品正在开发中

考虑到目前的需求,一些大型投资公司很可能会在近期推出专门的加密投资产品。高盛集团已经成为了首家向客户提供比特币交易产品的投行。在去年11月初,该公司开始为少数客户提供服务来测试他们的新型加密货币交易平台,这一平台允许用户交易不可交割的比特币远期合约。

纽约证券交易所的所有者洲际交易所(ICE)也计划在12月底推出其比特币期货产品。这些合约将由ICE数字资产的比特币储备支持,所有的期货合约也将通过ICE Clear U.S.进行验证。

加纳帕提集团GanaEight Coin的联合首席执行官Hayato Terai表示:

有关金融产品的立法改革,正在为加密货币交易领域带来更多的透明度和合法性。首次代币发行领域很快也会发生类似的变化。随着更完善的监管的到来和安全机制的建立,我们可以预期到机构投资者将更有兴趣参与到例如通证化证券和稳定资产的加密货币投资中。

今年早些时候,高盛的主要战略投资集团和银河数码创投有限责任公司联合投资了BitGo的产品,这款产品是专为机构投资者设计的、专门用于存储数字资产的新一代托管人专用钱包。

显然,机构投资者正在增强他们的技术实力来适应更多的加密货币交易需求。因此,个人投资者应该对这些新产品进入市场的消息保持敏感。

机构投资者可以防止加密货币市场失衡

实际上,大量的加密货币货币买卖是在场外进行的,这样可以避免引发加密货币价格的大幅波动,同时也能减少对交易所造成的影响。很多业内人士担心由于机构投资者的参与,比特币的流动性可能很快会成为一个问题。然而在过去的两个月的时间里,尽管有大量资金买入加密货币,但加密货币的市场仍然保持稳定。

其实机构投资者还能够“锚定”那些持有大量加密货币资产、能导致加密货币价格大幅波动的鲸鱼们。与个人投资者不同的是,金融机构在很大程度上限制了鲸鱼们大规模操纵市场的能力。因此,机构投资者的存在实际上可能有助于提高加密货币价格的稳定性。

加密货币交易的安全性可能会得到改善

阻碍机构投资者进一步进入加密货币市场的最大问题之一是缺乏适当、安全的基础设施。目前,只有少数几个保管人符合监管机构规定的安全标准。

此外,大多数玩家还没有为他们的客户找到最佳的KYC(了解你的客户)程序。事实上,在美国和欧洲运营的加密货币交易所中,有68%都不完全符合KYC标准。其中大多数交易所允许用户在不提供任何身份证明文件或接受KYC检查的情况下交易法币和加密货币。人们对加密货币交易领域的信任仍然很低,特别是监管机构,他们反过来又会试图推动更严格的监管落实并推出相应的验证程序。

然而,大多数机构投资者目前正与监管机构密切合作,通过制定明确的KYC/AML(反洗钱)政策和指导方针从而使双方受益。加密货币EFT即将获得美国证交会的批准。在瑞士,Crypto Fund AG最近成为瑞士金融管理局授权的第一家也是唯一一家加密货币资产管理公司。因此,越来越多的国际监管机构将批准针对机构投资者和个人投资者的新型金融工具。

机构投资者向加密货币市场提供了新的资进和流动性,这进一步推动了新的监管框架的发展和采用。最终,这将增加加密货币交易领域的透明度和合法性,并进一步推动市场的发展。现在评估机构资金在这一领域的确切影响还为时过早,但显然机构投资者的入场标志着加密货币的一个新的里程碑的到来。

It’s official: institutional players have entered the crypto race. Bloomberg reported that large buyers such as hedge and endowments funds have been consistently purchasing over $100,000,000 worth of digital coins through private transactions.

Miners are now scheduling regular, over-the-counter (OTC) coin sales. Some have even set up their own liquidity desks and operations to accommodate the estimated $250 million to $30 billion in trades.

Previously, large investors have stayed clear from the crypto-investing space due to high volatility of the key currencies. As bitcoin and ether prices have seemed to reach certain equilibrium this year, more and more traditional financial institutions have started diversifying their portfolios with crypto assets.

For individual investors, this active interest from larger player presents a range of new opportunities as well.

New crypto-investment products are underway

Considering the current demand, large investment firms will not stay away from launching dedicated crypto-investment products for much longer. In fact, Goldman Sachs Group has just become the first investment bank to offer a bitcoin trading product to its customers. At the beginning of November, the company started onboarding a small number of clients to test their new crypto trading desk, which allows trading bitcoin non-deliverable forward contracts.

Intercontinental Exchange (ICE), the owner New York Stock Exchange, has also scheduled a launch of their bitcoin futures product for later in December. The contracts will be backed by bitcoin reserves held in ICE’s Digital Asset Warehouse, meaning that actual bitcoins will change hands once the contract expires. All futures contract will also be validated through ICE Clear U.S.

“Legislative changes regarding financial products are bringing in more transparency and legitimacy to the crypto-trading space,” said Hayato Terai, Co-CEO of G8C token-issuing GanaEight Coin Ltd., a Ganapati Group company. “The ICO space will soon undergo similar changes as well. With better regulations and security mechanisms such as tokenized securities and stablecoins already being introduced, we should expect more interest and participation from institutional investors.”

Earlier this year, Goldman Sachs’ Principal Strategic Investments Group and Galaxy Digital Ventures LLC jointly invested in BitGo’s product – a new generation custodian purpose-built wallet for storing digital assets, designed specifically for institutional investors.

Clearly, institutional investors are growing their tech muscle to accommodate more crypto-trades. Individual investors should definitely stay alert for the new products entering the market.

Institutional investors can prevent market imbalance

Large volume crypto purchases took place over the counter to avoid swinging the crypto markets and crashing the exchanges. A lot in the industry fear that bitcoin liquidity may soon become a problem due to institutional investors’ participation. However, during the past two months, the crypto markets remained stable despite large volume purchases and did not tick upside.

In fact, institutional investors can “anchor” the current market whales, possessing significant crypto holdings and capable to distort crypto prices with little-to-no consequences. Unlike individuals, financial institutions are largely restricted in their abilities to manipulate the markets on a large scale. So their active presence may actually contribute to more stable prices.

Crypto-trading security will likely improve

One of the biggest issues preventing further market penetration for institutional investors is the lack of proper, secure infrastructure. At the moment, only a handful of custodians meet the security standards imposed by regulators.

Additionally, most players have not yet figured out the optimal KYC procedures for their customers. In fact, a staggering 68% of cryptocurrency exchanges operating in the U.S. and Europe are not fully KYC compliant. Most of them allow users to trade fiat and cryptocurrencies without providing any identification documents or undergoing a KYC check. Trust in the crypto trading space remains low, especially among the regulators, who, in turn, try to push stronger regulations and verification procedures.

However, most institutional investors are now working closely with the regulating bodies to develop clear KYC/AML policies and guidelines that favor both parties. Crypto EFT is getting closer to the approval with the SEC in the US. In Switzerland, Crypto Fund AG has recently become the first and only crypto asset manager, authorized by the local Financial Authority. The precedent has been set and more international regulators will move forward with approving new financial tools for both institutional and individual investors.

Institutional investors offer a fresh inflow of capital and liquidity and propel the development and adoption of new regulatory frameworks. Ultimately, this will add more transparency and legitimacy into the crypto trading space and push the markets further. It's too early to assess the exact impact of institutional money in the space, but clearly, it signifies a new major milestone for the cryptocurrencies.

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