DeVere Group: 35% of Wealthy People interested in Crypto

The financial consulting company DeVere Group recently published a report according to what 1 out of 3 wealthy individuals want to invest in cryptocurrencies
02 June 2018   1517

This study was taken by 600 DeVere group customers from across the globe from countries like USA, Hong Kong, Australia, UAE, Germany, etc. DeVere has their own app which allows investors to buy and sell Cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Stellar Lumens (XLM). Recently Bitcoin Cash (BCH) and EOSIO (EOS) were added to the exchange.

According to Nigel Green, the founder and CEO of DeVere Group, the one thing that investors cannot do is ignore cryptocurrencies and this field has large potential and will grow exponentially in some next years.

This mainstream expansion is clearly evidenced by the fact that more than a third [35 per cent] of wealthy individuals around the world - who are already likely to be successful investors - are telling us that they already have exposure to crypto or that they will have by the end of this year. The survey’s findings demonstrate that high net worth individuals are increasingly unable to ignore the huge potential of cryptocurrencies. I believe that there is no longer any doubt that cryptocurrencies in some form are the future of money. And, seemingly, this is a view increasingly shared by wealthy investors the world over.
Nigel Green
Founder, CEO, DeVere Group

The Founder of Pantera Capital Dan Morehead claims that it`s just the right time to buy Bitcoin. Bitcoin which achieved a high mark of about $20000 has decreased over 60% with a present price of $7637. Dan supposes this a bargain and certainly a good time to buy. He is very optimistic towards cryptocurrencies and affirms new high are yet to be reached.

It’s much cheaper to buy now and participate in the rally as it goes. Many institutions are essentially buying the rumor [of potential SEC regulations] and selling the fact. Getting invested now so that in three, four, five months when the institutional, quality-regulated custodians that we’re hearing about come online, they’ll already have their positions.
Dan Morehead
Founder, Pantera Capital

Since May 23 Bitcoin has not traded above $7800 and would be a major to get through obstacle. According to Fundstrat Technician Robert Sluymer, the next key support would be $7000.

VanEck & SolidX to Withdraw BTC ETF Application

Bitwise and Wilshire Phoenix' Bitcoin applications are still pending
18 September 2019   46

The bid for Bitcoin ETF launch by VanEck and SolidX, considered the most likely candidate for approval, was withdrawn amid continuing uncertainty from the US Securities and Exchange Commission (SEC).

VanEck and SolidX planned to place their Bitcoin ETFs on the Chicago Options Exchange (Cboe). However, as follows from the notification published on Tuesday, on September 13, the latter withdrew the application for a change in the rules, which, if approved, would allow launching the corresponding tool.

Previously, SEC postponed the solution several times at the request of VanEck and SolidX. The last time this happened in August was when the decision on Bitcoin ETFs from Bitwise Asset Management and Wilshire Phoenix was also postponed.

The final deadlines for decision making on Bitwise and VanEck / SolidX applications were on October 13 and 18, respectively. Wilshire Phoenix's decision is due on September 29th.

It should be noted that over the past few years, various companies have sought approval from the SEC to launch exchange-traded funds, but each time the regulator refused. Most often, the reasons for the negative decision were explained by the risks of market manipulations and insufficiently developed market control tools.