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Satoshi&Co Daily Crypto Newsletter #42

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Satoshi&Co Daily Crypto Newsletter

November 2 · Issue #61 · View online
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Cryptocurrency asset management firm Grayscale reported that investors poured $81 million into its investment offerings, putting the YTD flows at $330 million. This represents a multifold increase in inflows from the $21 million in inflows for the first three quarters in 2017. Grayscale’s strong fund inflows, besides the many positive updates on institutional involvement, here points to a secular increase in institutional crypto involvement, despite the protracted bear market of the last two quarters. While Grayscale launched three funds this year to support investments in Litecoin, Ripple and Zencoin, Bitcoin remains the biggest recipient, accounting for over 73% of all inflows. Additionally, Morgan Stanley’s recent research report on cryptocurrencies also stated that crypto is becoming an “institutional asset class.” This is a welcoming sign for crypto investors who can now hope to put the painful bear market behind them. Most every institution will eventually allocate a portion of their wealth to this truly differentiated asset class, now that institutional standard-setter Yale has set the ball rolling. With the custody puzzle also close to being solved, focus will now shift more and more towards regulation alone. Regulation remains ambiguous and could well be the final frontier that crypto needs to cross but regulators will take some time to arrive at any sort of preliminary clarity, let alone steady state evolutionary equilibrium like the one that exists in traditional financial markets. 
The fact remains that the vast majority of ICOs we have seen in recent times have basically been scams. Also as with most late stage investment cycles, retail investors have been the ones left holding the can. Caution from regulators is therefore justified.
Meanwhile in Crypto Wonderland....
“Grayscale Reports Q3 Results”
In its Q3 results, Grayscale highlighted raising $81.1 million over the last three months, which brought the firm’s year-to-date inflows to almost $330 million, representing an increase of almost 1200% from the same period in 2017, when the company raised $25.4 million. The current year is the strongest Grayscale has experienced during any calendar year since the beginning of its activity.
“Crypto Winter Could Last 18 Months”
In an interview with Yahoo Finance, Arthur Hayes, CEO of crypto trading platform BitMEX, stated that he believes the “crypto winter” could last 18 months. The ex-Deutsche Bank and Citi trader who co-founded BitMEX back in 2014 said that the low volatility and volume trading climate could “persist for another 12 to 18 months”.
“NASDAQ Can Address Crypto Fraud”
According to Bloomberg, NASDAQ, the stock exchange behemoth believes it can solve some of crypto’s issues – fraud and market manipulation. In a report published yesterday, Nasdaq noted that it had a wealth of experience in dealing with the intricacies of the assets trading market. According to Nasdaq, some significant players in the cryptocurrency trading space are already using its market surveillance technology.
“Circle Joins GDF”
GS-backed Circle has joined the Global Digital Finance (GDF) industry body as a founding member to develop a global “Code of Conduct” for crypto. Circle stressed the company’s commitment to developing standards for the industry in order to promote the acceleration and adoption of digital assets. Other industry players in the group purportedly include Coinbase, ConsenSys, DLA Piper, Diginex, and others.
Crypto Twitter Pick
What We Are Reading / Listening To
Overnight Performance of Top 10 Currencies
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