Are Financial Institutions “Ready” or “Not Ready” for Crypto? VanEck's Piece the Puzzle Remedy

A recent news article by the New York Times discussed an interesting issue, which is that it seems financial institutions’ actions in the cryptocurrency realm may have been too early and too soon. The article featured commentary by Paul Chou, a former Goldman Sachs employee. Chou asserts that

“It was definitely part of the original plan that institutions would be a big part of the market. We were wrong.”

The article delves into the various segues that financial institutions, such as Goldman Sachs and the New York Stock Exchange, had considered taking, but had backed off from. For example, although Goldman Sachs had reported that it intended to open a Bitcoin trading operation, it has not done so due to a lack of regulatory approval.

Further, the though the New York Stock Exchange announced a cryptocurrency exchange, it still has not launched. According to Ciaran Murray, who also commented in New York Times’s article,

“The smart money knows that crypto is not ready.”

There are those who take the opposite position though – that crypto is actually ready. One such individual is Gabor Guracs, a Digital Assets Strategist at VanEck. In a tweet, Guracs seemingly countered at the article, stating

“Here is a list of recent institutional developments that indicate that crypto is getting more ‘ready’ by the day. For any rational thinker/investor, these are hard to ignore developments.”

The tweet pointed to another one by VanEck, in which it referenced the Twitter pages of Fidelity Digital Assets and #Cryptocurrency.

At this point, it seems that there certainly is a discourse as to whether financial institutions are ready and not even the experts have a firm or conclusive answer.

BTC Price Prediction: Today's Top Crypto ETH, NEO, and XRP Technical Analysis

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today