Tyler Winklevoss: Wall Street Will Recognize Cryptocurrencies In Time
August 17, 2018
The head of Gemini crypto exchange Tyler Winklevoss voiced his suggestion that the crypto market will finally attract many prominent institutional investors of Wall Street in due course.
“Wall Street is taking cryptocurrencies seriously, however, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail driven market. This will change over time, but it will take time”, Tyler Winklevoss said in his interview to Bloomberg.
The experts of the publication believe, the most of institutional investors are going to bypass the market of digital currencies until financial regulators take their ultimate stance to it.
At the end of the last month the US Securities and Exchange Commission declined a Bitcoin-ETF license application by the Winklevoss brothers. As some crypto community members believe, that is what caused the whole market collapse as, given this decision approved, the crypto industry would get popular among recognized investors.
Tyler Winklevoss added that now the primary goal for Gemini is expanding retail business by adding new cryptocurrencies to the platform. He also noted that over the last half a year the staff of the exchange has doubled which is supposed to happen again by the end of the year.