James Hume, head of sales at Huobi Global, said that while some institutional investors have gotten “cold feet” over crypto, many with billions of dollars are exploring the space.
Speaking to Cointelegraph at the European Blockchain Convention on Tuesday, Hume said that the crypto exchange had observed increasing interest from institutional investors within the last one to two years in entering the digital asset space. According to Hume, it took a long time for certain firms and hedge funds to “build teams, raise capital and understand the infrastructure” to participate in crypto, estimating that 20–30 firms with more than $1 billion could start trading within the year.
“I think it’s a pretty exciting time,” said Hume. “A lot of the more speculative bets in crypto… Some have got a bit of cold feet, obviously, if you’re looking to come to the market and take a pretty decent size allocation.”
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June 27th
⏰11:35 AM CET
Panel: The Next Big Business in Crypto is Staking
️@enevamaria Ben Spiegelman Andrew Howell @JamesHume112#EBC22 pic.twitter.com/n72nC7Nl4G
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The Huobi sales head added that the exchange noted that people had “slowed slightly” in investments in hedge funds, speculating that larger venture capital firms could wait out some of the market volatility,…
