In a recent interview, BitMEX CEO Alexander Heptner shared his thoughts on institutional investors who he believes still have an appetite for cryptocurrencies and Ethereum.

Speaking at the Token2049 conference in Singapore on Sept. 28, the head of the cryptocurrency told Cointelegraph that there has been “no decline in institutional desire for cryptocurrencies” during this bear market.

He added that institutions and players in the financial industry typically use bear markets to innovate. There is much more pressure in a bull market, but a bear market provides the luxury of more time.

Heptner also noted that the adoption of the financial industry has a long horizon, so institutions will buy and hold cryptocurrency assets, while the opposite can be said for retail at present.

When asked if institutions or retail would put an end to the bear market, he said that retail is still falling while institutions are still pushing, before adding:

“I think organizations are now gearing up to provide services and retail will come back and be their leader again.”
The CEO of BitMEX is also convinced that institutions will start moving back into Ethereum now that he has switched to proof of stake and ESG issues.

“Ethereum is the perfect protocol for things to evolve,” he commented, before adding, “This is the perfect public event to create ESG compliant financial products,” referring to the recently published merger.

For now, adhering to ESG standards is important, he said, adding that organizations “can once again offer truly customized products to a broader audience by ticking one of the boxes they have to meet requirements.”

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An Ether (ETH) price of $3,000 was mentioned at the end of the year, and Höptner sees this as an opportunity, especially now that the network has become greener and is being used by major banks. ETH is currently trading up 3.8% in the last 24 hours at $1,336, so it still has a long way to go in the next three months.

Cointelegraph reported last week that liquid staking products like Lido Staked Ether (stETH) are more profitable and capital efficient than regular ETH contracts. Thus, its popularity will grow while the use of ETH may become obsolete.

Source: CoinTelegraph