According to Nasha Afshar, a director at SEBA Bank, the question of institutional interest shifting from “if” to “when” indicates growing confidence in the cryptocurrency industry. Afshar believes that when the markets were in a bull run, many expressed their interest in crypto, but the action behind that interest was not as strong as it is today. Recently, firms of significant size and global presence, such as Citadel, BlackRock, WisdomTree, and Invesco, have entered the crypto space, which Afshar sees as an extremely bullish sign for the industry.
Afshar noted that businesses are also showing interest in expanding into areas with a robust framework and pro-crypto stance, like Abu Dhabi Global Markets in the UAE where SEBA Bank has an office. She also mentioned that there was still a “question mark” hovering above cryptocurrency as an asset class among institutional investors back in the day, which has now shifted to a belief that the industry will become bigger.
Overall, rising institutional interest in crypto is a positive sign for the market, signaling growing confidence and increased investment.