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Senior Advisor at Coinbase: Institutional crypto adoption is evolving “very, very quickly”

 


Institutional acceptance of digital assets is evolving "very, very quickly," much faster than emerging industries typically evolve, according to senior advisor at Coinbase John D'Agostino.


In an Oct. 18 interview with SALT, moderated by Anthony Scaramucci , D'Agostino said new asset classes often take time to develop because "institutional inertia is quite common." "There are a lot of switching costs that come with adding new assets," but that wasn't the case for crypto:


“I've been trying to make commodities mainstream for 15 years and I think crypto is evolving really fast. But I can understand why someone in the heat of the moment would say it's icy. But institutionally, it's evolving in my opinion after very, very quickly."

D'Agostino believes US regulators' "complacency" has hampered institutional acceptance and harmed the "growth of technology."


However, D'Agostino considers the "two-tier regulatory system" between the US Securities and Exchange Commission and the US regulator CFTC "a good thing" because "nobody is arguing about something that's going to go away."


“The fact that crypto is being used as a bargaining chip by heads of regulators and the fact that these public announcements are being made to reach agreement on which regulator will have control is an indication that this is an extremely important one is part of the market structure."

D'Agostino is certain that a crypto ETF will eventually be approved despite the SEC's rejection so far:


"I think that will change. Despite the delay, an ETF is imperative. I can't tell you when that will happen. But I know it will eventually."

Co-founder and CEO of Singapore-based crypto exchange Coinhako Yusho Liu recently told Cointelegraph that he expects interest from institutional investors to continue to grow as the industry matures.


"We believe that institutional inflows into the market will continue to increase and will be an important catalyst for future crypto innovation and adoption," he explained.

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