CEO of Gemini Tyler Winklevoss said institutional investors were gradually warming up to cryptocurrencies, but it will take time before they make a splash.



He said:



“Wall Street is taking cryptocurrencies seriously. However, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.”



Institutional investors have been on the sidelines for a while due to the regulatory uncertainty hanging around cryptocurrencies. Investors on Wall Street are waiting for the regulators to clarify their positions on tokens and allow other financial instruments into the market, such as the Bitcoin ETF proposal drafted by Gemini and Cboe Global Markets Inc. The fund, if approved would have opened up the volatile cryptocurrency market to institutional investors.

After the denial of their ETF application, the Winklevoss brothers still believe Wall Street will move into crypto markets. They caution it will take time.It is taking longer than I expected, for sure. Coinbase Custody should be easily accessible by now. I guess many companies have to change their investment charters to allow for bitcoin. Early movers could be getting some good buys right now.