Laurent Kssis, managing director and head of ETFs at Amun.Swiss crypto investment product provider Amun says it has received significant institutional interest in its exchange-traded product tied to the Binance Coin exchange token.
Amun's Managing Director and Head of ETFs, Laurent Kssis, said the company's European roadshow in London, Zurich, Milan and Scandinavia is already "Fully booked" with meetings with representatives from over 30 institutional investors across the continent.
The event, which began last week and is expected to continue through Friday, is marketing the BNB ETP to potential clients.
New BNB-integrated products and services, such as margin trading, lending, and derivatives, could become another key value proposition should they gain and hold market share, said Ige.In an investment thesis published at the ETP's launch, Amun argued Binance Coin was "in a prime position to be one of the best performing large cap crypto assets of the next twelve months.
Supporting the idea that well-heeled investors are starting to sniff around cryptos other than bitcoin, Grayscale Investments's Q3 report showed that inflows into its non-bitcoin trusts increased sharply, with nearly 80 percent coming from institutions.
Historically, developments have increased interest in BNB. David Thomas, director at the London-based crypto brokerage firm GlobalBlock, said clients had enquired about purchasing BNB following the launch of the Binance.
Last month, crypto news outlet The Block reported that authorities in China had paid a visit to Binance's Shanghai office amid a broader clampdown on the crypto sector by the government.
While the initial characterization of the event as a "police raid" appears to have been overblown, and Binance itself insisted it never had an office there, the report alone may have been enough to discourage investment.
The added selling pressure from miners flooding the market with bitcoin may mean some institutional investors sit on their hands until conditions improve.
Amun hopes its meetings with potential clients will convert into orders.
Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says
Published on Dec 3, 2019
by Coindesk | Published on Coinage
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