A poll published on March 31 demonstrated that senior trading executives believe that large businesses in the market would be interested in taking advantage of the new crypto plunge, particularly Bitcoin (BTC).
According to the Selection of Digital Asset Trading report printed by Acuity management intelligence platform, about 100 places capable of trading cryptocurrencies have launched for institutional clients.
The poll shows greater adoption of digital assets, one of the sell-side service providers (26 percent ) than traditional trading firms (17%). However, it explained the adoption rates are confined to the CME or Bakkt.
Bitcoin and Ethereum derivatives are of major interest
All the crypto trading companies which were studied from the report recognized that there was an increasing interest in Bitcoin derivatives. About 57 percent of established trading companies have exchanged Bitcoin, while 29% traded Ethereum (ETH) derivatives.
One of the decisions of this survey is that though XRP is being ranked as the eighth most popular digital advantage, XRP/USD was rated 5th in the ranking of the preferred cryptocurrency pair within institutional firms. Their best three principal considerations are liquidity, volatility, and arbitrage opportunities.
Future looks bright despite security concerns
Future appears bright despite safety concerns
Among the most significant concerns among most trading associations surveyed, including those still waiting to trade digital assets such as cryptocurrencies, was that the security vulnerabilities of exchange and fears over hacking.
Another company detailed in the report is fear of reputational damage, which explains why a lot of trading institutions don’t want to offer digital assets one of their portfolios.
Although the survey still believes that adoption rates remain low, the future looks bright concerning adoption. Ninety-seven percent of traditional trading firms are considering trading electronic assets within the next two decades.