2,500 of the world’s foremost investment professional descended on Hollywood this week to talk exchange-traded funds (ETFs). While much of the discussion between the who’s who on Wall Street was centered around traditional vehicles, talk surrounding Bitcoin (BTC) and cryptocurrency products came to light.
In an interview with CNBC’s Bob Pisani, a leading representative of the cryptocurrency space expressed optimism towards the launch of a product, which could thaw BTC out of a price crash-induced cold snap.
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Bitwise Asset Management CEO Hunter Horsley, a guest on CNBC’s segment, first noted that by many, if not most measures (save for price), 2018 was a solid year for crypto’s facets. Horsley remarked that while token values plummeted, in “everything you can wish for,” strides were made, especially in terms of market structure and participation. He drew attention to Fidelity’s up-and-coming custody product, CME’s and CBOE’s futures, along with participation from university endowments, Facebook, and Samsung to give his point some credence.
So, he concluded that cryptocurrencies as an asset class are in their “most viable” state ever. That led Horsley to his next