Sergey Nazarov, the founder of Chainlink, believes the recent launch of Bitcoin exchange-traded funds (ETFs) is a major milestone for the crypto industry. He predicts that it will attract a surge of capital from global financial institutions.
Institutions Embrace Crypto
Nazarov says that institutions are now the primary drivers of the crypto market, seeking new ways to invest in digital assets after the success of Bitcoin ETFs. He believes there is still a significant amount of value that can flow into crypto markets.
Asset Tokenization on the Horizon
According to Nazarov, the next phase of crypto adoption will involve asset tokenization. Banks will see the inflows into ETFs and create their own assets to compete or capture some of that capital.
A Watershed Moment
Nazarov emphasizes that the current situation represents a “watershed moment” for the crypto industry. Top asset managers worldwide are now comfortable with digital assets, which opens up a vast new market for cryptocurrency.
He notes that the size of this market is not fully understood and that it will have a significant impact on the crypto ecosystem.
