Coinbase Senior Advisor John D’Agostino said the institutional adoption of digital assets is “advancing very, very fast,” much faster than the pace at which emerging industries typically move.
In an Oct. 18 interview with SALT moderated by Anthony Scaramucci, D’Agostino said it often takes time to develop new asset classes because “an institutional dead end is very real” and “there’s a lot of conversion costs involved with adding new assets, but that wasn’t the case.” in case of Encoder:
“For me, for someone who has spent 15 years getting the goods, it actually happens very quickly. But I understand why some people feel cold in the heat of the moment. But for institutions, I think it’s happening very, very quickly.”
As for what could slow institutional adoption, D’Agostino said US regulators are “complacent” to the point of hurting “technological growth.”
Interestingly, however, D’Agostino considers the “general regulatory regime” between the SEC and the CFTC “a good thing” because “nobody is fighting for something that will disappear.”
“The fact that regulators use cryptocurrencies as a bargaining chip [and] the fact that these public announcements are made to promote a position that regulators want to control shows that this is an important part of the market structure. ”
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D’Agostino was adamant about eventually settling for a crypto trading fund (ETF), despite the SEC’s insistence:
“I think that will change. Despite the delay, the ETF is inevitable. I cannot tell you when this will happen. But I know it will happen at some point.”
Yusho Liu, co-founder and CEO of Singapore-based cryptocurrency exchange Coinhako Yusho Liu recently told Cointelegraph that he expects institutional interest to continue to grow as the industry develops.
“We believe that institutional flows to the market will continue to grow and serve as a key driver of crypto innovation and adoption in the future,” he said.