CFTC Chair: Institutional investors will help crypto "mature"

posted 4 days ago
An influx of institutional investors to the cryptocurrency markets may help the space "mature," US Commodity Futures Trading Commission chair J. Christopher Giancarlo said Friday. The regulator said there has been a noticeable increase of institutional investors and traders to the space. As this growth continues, Giancarlo said he expects more "maturation" of the crypto markets.

"We've still got a long way to go, there's a lot of issues in some of these spot exchanges, a lack of transparency, a lot of conflict of interest, a lack of systems and systems safeguards, and that's a concern. But you know, like all things, it takes time to mature, and with the movement of more institutional investors into the space, I think we'll see that [maturation]... It was under our watch that the very [first] two Bitcoin futures products have emerged and according to the San Francisco Fed it was the Bitcoin futures emerging that actually sapped the Bitcoin bubble that emerged at the end of 2017 and we've seen Bitcoin, perhaps, in some people's view, achieve a more sustainable level than it was during the bubble period last year."
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