Coinbase seeing $200-400M per week from Institutional Clients
Coinbase is seeing major investments flowing in every week from institutions.
Roughly 12 months ago, it was questionable whether institutions would ever actually jump into bitcoin and crypto in any meaningful way.
Now, it's not even a question of "if" any longer.
According to the CEO of Coinbase, Brian Armstrong, they are seeing roughly $200-$400 million per week flowing into crypto assets from institutional clients.
Yes, that is PER WEEK.
(Source: https://www.ccn.com/coinbase-ceo-just-revealed-a-big-catalyst-for-bitcoins-price/)
The good news keeps on coming...
Coinbase also recently announced the acquisition of Xapo’s institutional custody business, and Armstrong now claims that Coinbase custody is the No. 1 custodian of cryptocurrencies for institutional investors.
This is also coming at a time when Bakkt has announced a date for their Bitcoin Futures launch, and Fidelity, TDA, and Etrade are all looking at getting involved in crypto for their institutional clients in varying ways.
We are literally seeing the next stage of the bitcoin investing ecosystem being built right before our eyes.
It's refreshing to see it happen with a product that isn't already owned exclusively by institutions.
The little guy has a shot for once.
Stay informed my friends.
-Doc
I no longer use coinbase but still a huge sign of good (even better) times ahead for Bitcoin 😃👍🏽
Cheers !BEER
Posted using Partiko iOS
Yep, I agree. The more institutional type money that comes in, the better for a whole host of reasons.
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Thanks.
That is a hell of a lot of money wonder how much is going out per week and the net income into crypto that would make for an interesting figure
I think that is mostly net inflows to be honest. They said they have over $7 billion in assets under management now.
I wonder how this compares to some of less liquid ETFs out there as I bet it is becoming an increasingly source of interest for institutions!
Posted using Partiko iOS
It sounds like a lot of money either way you slice it. Plenty of interest.
Sounds very encouraging! Thanks for posting. Upvoted and resteemed.
Thanks.
You are most welcome my friend 😄
Howdy sir Doc! Great news indeed, institutional money finally flowing in. Very encouraging.
Yep, and it is pretty big money at that!
Thanks so much for keeping us up to date, I'm interested in what the market and crypto niche is doing but don't have much time to keep up with it.
Glad this helps keep you up to date!
To view or trade
BEERgo to steem-engine.com.Hey @jrcornel, here is your
Do you already know our BEER CrowdfundingBEERtoken. Enjoy it!Cool, thanks!
How many BEER do I need to stake in order to give out beers to people?
I think it says 6 staked gets you one beer per day to give.
I have always love Coinbase no matter what people have said about them. I created an account with them back in 2013 and have stuck with them ever since. I got to see every single coin listing since they first listed Ethereum. I remember when they were only selling Bitcoin :-)!
When will we see steem?
Probably never at this rate, the network adoption just isn't there and neither are the fundamentals.
Anything we can do to help change that?