Key facts: One in six Americans owns crypto assets, notes Grayscale. The cryptocurrency industry got a shot in the arm with bitcoin ETFs. John Hoffman, managing director of distribution and partnerships at Grayscale, stated at the Seeking Alpha Investment Summit that, within the next 20 years, “cryptocurrencies will be in every investment portfolio.” The growing popularity of cryptocurrencies in the United States is notable, with one in six Americans owning crypto assets, at a time when bitcoin (BTC) and other digital tokens have seen a significant increase in value, the executive noted. In the case of South America surpasses Europe as the region with the most bitcoin and cryptocurrency users with more than 50 million people in the region using these assets. Argentina is among the leading nations in terms of the number of cryptocurrency users, with an ownership rate of 18.9%. This is due to the long-standing economic problems facing the country, marked by high inflation. Argentines turn to crypto assets as a refuge of value due to the loss of purchasing power. The others Latin American countries with high cryptocurrency ownership rates are Brazil and Venezuela, with 17.5% and 10.3%, respectively. During his participation, Hoffman stressed that The question is not whether cryptocurrencies will remain, but how they will evolve in the future.ensuring that «they are not going to disappear.»
Participation of John Hoffman, director of distribution and partnerships at Grayscale in the Seeking Alpha Investment Summit. Investment in bitcoin and cryptocurrencies, as well as the industry related to those assets, received a boost from the infrastructure that is being designed and institutional capital flow from bitcoin spot ETFs. In the case of financial instruments based on bitcoin, approved last January, they have registered total net inflows reaching $15 billion. Meanwhile, the Ethereum ETFs approved last May are waiting to list on the US stock exchange. It is possible that get authorization in the first week of July, according to Eric Balchunas, ETF specialist at Bloomberg Intelligence. The increase in investments in ETFs is bullish for the underlying assets, since management companies must buy and hold bitcoin and ether in their treasuries. This acquisition process to back ETFs creates direct and tangible demand in the market, reducing the amount of assets available on the open market, which can lead to an increase in price due to limited supply.
Banking offers investment in digital assets
In addition to ETFs, banks are also attracting investors to cryptocurrencies. On June 21, the multinational bank of British origin Standard Chartered reported that is close to starting operations of a trading desk that will allow spot trading of bitcoin and ether. In this way, the financial institution will become one of the first global banks to enter spot trading of digital assets, as reported by BitcoinDynamic. This is part of a strategy to support clients across the broader digital asset ecosystem, from access and custody to tokenization and interoperability, the bank said.