Man Group may launch Bitcoin futures trading

This is said by the Luke Ellis, CEO of Man Group to Reuters
15 November 2017   565

Man Group is the  world’s largest publicly traded hedge fund, with $103.5 billion under their control. Man Group is a London based firm with 1,250 employees and 2016 revenue of $827 million. If it will start Bitcoin futures trading, it will be big step for Bitcoin and blockchain. 

Luke Ellis, CEO of Man Group told Reuters:

Conceptually digital currencies are an interesting thing. It’s not part of our investment universe today – it could be. If there is a CME future on bitcoin, it would be. There is a big difference between a digital currency and a traditional currency...Traditional ones are supported by governments who have armies and tax men that can make people follow their rules, and digital ones don‘t. But that doesn’t invalidate digital currencies at all. You’ve got a few countries where there is a real problem about getting paid your money back - like Venezuela and Lebanon. There are high yields but not if you’re not going to get your money back, and (then) there’s a whole bunch of countries that trade with sort of no premium. Is transparency about what’s going on in small and mid-cap stocks going to get materially worse? Yes. Is it going to create some what are inherently false markets which will hurt some inexperienced investors? Yes.
 

Luke Ellis

CEO, Man Group

It is worth reminding that abovementioned CME Group reported on the start of Bitcoin futures trading in December. It doesn't seems possible that Man Group will launch BTC futures trading to that date too, but, we can see that institutional investors are very interested in Bitcoin.

Bank of America: Cryptocurrencies Are a Threat

Bank of America (BoA) has admitted to US regulators it can not pretend any longer that cryptocurrencies are not a threat
23 February 2018   137

On February 22, the report was filed with the US Securities and Exchange Commission (SEC). It listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank faces as it heads into the new fiscal year. Crypto adoption was on the list for the first time.

Bank of America (BoA), which recently banned purchasing of crypto with credit cards, stated that this and other similar policies could cost the bank clients.

Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies.

The second largest bank in the U.S. said that adoption of cryptocurrencies could require the bank to make “substantial expenditures” to update its existing services and remain competitive with upstart firms.

The widespread adoption of new technologies, including internet services, cryptocurrencies, and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

According to the Bank of America, cryptocurrencies could limit the institution’s ability to comply with anti-money laundering regulations.

Eventually, this is one of the first public admissions that financial institutions are beginning to worry that mass cryptocurrency adoption could one day become a reality.