You are currently viewing Major Institutional Moves in Crypto – ErisX, Nasdaq, Poloniex & Voyager

On Tuesday December 4th, 2018 we got major news of multiple institutional moves in crypto. This is a great sign as it shows the growing interest and potential of this new asset class. In this bear market when weak hands have left the big money is setting up shop and filling their bags. Below is summary of each of the updates.

ErisX said it has raised a total of $27.5 million from investors including Fidelity Investments, Nasdaq Ventures, Bitmain and ConsenSys. In October 2018 we got news that TD Ameritrade would be backing the new exchange. ErisX is set to launch in 2019 and will be a fully regulated exchange that will complete with the likes of Bakkt.

Nasdaq, the world’s second-largest stock exchange, has confirmed it plans to launch Bitcoin futures in the first half of 2019. This was confirmed by Joseph Christinat, vice president of Nasdaq’s media team. He said “there’s been enough work put into this to make [the question of regulatory approval] academic […] we’re doing this, and it’s happening.”

Circle’s Poloniex announced that it is offering both large and small institutional accounts services. They stated the following on the Circle blog: “Poloniex is focused on meeting the advanced trading needs of institutions. We offer higher withdrawal limits and professional customer support from a dedicated team of Account Managers in our Client Services department.”

Voyager announced its launching an institutional service stating “We are actively working with financial institutions, business partners, and trading platforms to bring our crypto solutions to investors.”