The biggest banks on Wall Street are tapping into the cryptocurrency market through derivatives

Episode 51 Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and James Stickland, CEO of Elwood Technologies.

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Elwood Technologies, an Alan Howard-backed digital asset platform that is building trading infrastructure for institutional investors, closed in $ 70 million Series A last month it was co-directed by Goldman Sachs and Dawn Capital.

In this episode of The Scoop, Elwood CEO James Stickland meets with host Frank Chaparro to discuss Elwood’s recent fundraiser and to provide a closer look at the institutional activity taking place in the cryptocurrency market.

According to Stickland, institutional exposure to cryptocurrencies “is more in the derivatives part of the market”, largely due to the profitable spreads:

“Cryptocurrency specialists are still able to make spreads through which they can drive buses. Which is great for them, which of course is creating FOMO and, with its synthetic nature and ability, is driving that real appetite. “

While derivatives are, for now, the magnitude of many institutions’ exposure to cryptocurrencies, Stickland says regulatory clarity around digital assets “will really allow for on-the-spot engagement and budget-keeping.”

Stickland believes that the combination of upcoming regulatory clarity along with a stronger market infrastructure has a strong impact on the long-term market:

“Getting great prime, getting great credit approved services, and regulator making a call – that plus having a real stable infrastructure, lights this thing up beyond belief.”

During this episode, Chaparro and Stickland also discuss:

  • Market liquidity conditions
  • The evolution of the neo-banks
  • Crypto “dark pools”
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