TradFi Continued Interest in Crypto Shows It Is No Longer a Fad: CFTC Commissioner
Cryptocurrency investing is rapidly breaking into mainstream financial consciousness, according to pro-crypto Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger.
Making her thoughts heard in a special appearance on CoinDeskTV, Mersinger noted that crypto trading is no longer a fad.
According to her, several government regulators viewed cryptocurrencies as a hot topic that would fizzle out with time. However, the nascent industry has shown its mettle and is now pulling in traditional finance.
Mersinger said this gradual interaction between legacy financial institutions and the blockchain-driven economy proves that these digital assets are here to stay, and even more mainstream investors would want exposure to them.
The foremost crypto asset, Bitcoin, has stirred the crypto market awake once again with its meteoric rally following reports of an eventual spot Bitcoin exchange-traded fund (ETF).
In the last 24 hours, Bitcoin has rallied more than 12%, surging well above $35,000 with even more bullish momentum expected.
Bitcoin’s strong rally was orchestrated by reports of BlackRock’s proposed spot Bitcoin ETF, iShares Bitcoin Trust, making an appearance on a list created by the Depository Trust and Clearing Corporation (DTCC).
The DTCC is responsible for post-trade clearances, settlement, custody, and information services. This rapid turn of events has led many ETF analysts to state that the opportunity of a spot Bitcoin ETF is significantly higher than ever before.
One such analyst is Bloomberg’s senior ETF expert Eric Balchunas, who noted on X (formerly Twitter) that BlackRock’s addition to the DTCC list is a clear signal that the asset management behemoth is leading the race in securing regulatory
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