DRW High Speed Trader Don Wilson Says Asian Bitcoin Futures Demand is Growing Fast


According to Don Wilson, the founder of high-speed trading company DRW, Bitcoin derivatives trading in Asia hours are equivalent to the volumes in America, which is unusual when paralleled to other financial instruments. Wilson made this comments during a discussion with John Detrixhe from Quartz at the CoinDesk Consensus Singapore conference. He was issuing his observations regarding digital currency trading trends and his perspective on the future of the industry.

Using data sourced from CBOE and CME, two US-based crypto exchanges, Wilson indicated that there is a high demand for Bitcoin futures in Asia. Precisely, Wilson noted that the Bitcoin futures trading stats from the platforms mentioned above are almost matched by Asia hours. In comparison, trading on the foreign exchange markets is significantly lower in Asia than in the US.

DRW is one of the trailblazing institutions to indulge in digital currencies trading. In this regard, the company launched the Cumberland over-the-counter trading desk four years ago, way before its peers such as JP Morgan and Goldman Sachs.

Concerning the establishment of the OTC trading desk, Wilson said that the motivation was the decentralization functionality that is inherent to virtual currencies. Although many investors are interested in Bitcoin as a store of value, Wilson is fascinated by its ability to transfer value in a trustless ecosystem. In 2017, the Wall Street Journal revealed that Cumberland had traded in excess of $20 billion worth of BTC, ETH and other digital currencies since 2016.

Additionally, Wilson mentioned that the scarcity of custody solutions is the reason behind the low rates of institutional adoption of cryptocurrency trading.

Don also issued his views on the recently published report by the New York Attorney General that indicated that many crypto exchanges are manipulating the markets as well violating other state laws. Although he agreed with most of the report, he reiterated that most of these problems stem from the lack of a clear regulatory framework for cryptocurrency and blockchain startups. Wilson concluded by saying that the absence of such regulations or their ambiguity is likely to cause the migration of innovative startups to favorable markets such as Singapore and Switzerland.

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