Analyst from US banking giant Goldman Sachs says institutional investors are just beginning to enter the crypto market.
A news presented by Reuters on March 20th included the statements of Matthew McDermott, the global head of digital assets at Goldman Sachs.
Spotting Bitcoin ETF approvals, Matthew McDermott said that institutional investor entries have just begun and could grow rapidly in the future. He said that trillions of dollars of institutions that have the potential to invest in Bitcoin could also rapidly drive prices upwards.
Speaking at the Digital Asset Summit (DAS) in London, McDermott noted that the recent rises are still driven by individual investors and that institutions hold a small share:
Price movement is still primarily driven by retail sales. But we are starting to see institutions come into play. We are really seeing a shift in appetite.
McDermott also emphasized his optimism about the real-world assets (RWA) and tokenization sector:
I think we will start to see more asset classes tokenized and actually start to scale on some kind of meaningful friction but maybe that’s a year or two away.
