BlackRock and Nomura Signal Interest in Cryptocurrency Market

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May 18, 2022
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BlackRock and Nomura Signal Interest in Cryptocurrency Market

The world of cryptocurrencies is witnessing a potential game-changer. BlackRock, the world's largest asset manager, and Nomura, a major banking giant, are showing significant interest in the cryptocurrency market.

BlackRock has recently filed for an exchange-traded fund (ETF) for Bitcoin. This move has not only validated the credibility of cryptocurrencies but also led to a boost in the price of Bitcoin and other cryptocurrencies.

Meanwhile, a survey by Laser Digital, a subsidiary of Nomura, revealed some intriguing insights. It found that 96% of professional investors managing nearly $5 trillion are interested in investing in cryptocurrencies. These investors, who collectively manage a staggering $4.95 trillion in assets, had a positive outlook on Bitcoin and Ethereum. Furthermore, 88% of them are considering investing in cryptocurrencies.

However, the potential for a Bitcoin spot ETF to significantly impact the market is still unclear and largely depends on demand. While BlackRock manages a significant amount of the world's capital, and a successful spot ETF could unlock substantial liquidity in the Bitcoin market, there are concerns about market manipulation and the need for surveillance data sharing.

These developments indicate a growing acceptance of cryptocurrencies among traditional financial institutions, potentially paving the way for a new era in the financial world.