Institutions appear to be more bullish on Bitcoin (BTC) than the members of the crypto community on Twitter, according to a recent survey by Fundstrat Global Advisors. Tom Lee, managing partner and head of research for the company, has revealed this in an interview with CNBC Oct. 4. Based on the results of a private survey of 25 institutions, as well as 9,500 responses to a public Twitter poll conducted September 30, Tom Lee concluded that Wall Street is calling a bottom in Bitcoin. As much as 54 percent of respondents to the survey of institutions are optimistic about the …

The Wall Street Journal (WSJ) created and then destroyed its own cryptocurrency in a bid to “understand” the industry, the publication revealed in a mini documentary Wednesday, October 3. WSJ Coin, which journalist Steven Russolillo hoped would shed light on the emerging crypto economy while providing real use cases for the journalism industry, made it to the grand total of two issued units. A mound of around 150 physical WSJ Coins was further distributed to the audience of a panel discussing the concept at the publication’s D.Live annual technology conference in Hong Kong. Speaking on the panel were remittance service …

Major altcoin Ethereum (ETH) is about to see a “trend reversal and rally strongly” up to $1,900 per token by the end of 2018, according to Fundstrat head of research Tom Lee, as Bloomberg reported September 27. In a note to clients of Fundstrat Global Advisors, Lee noted the “overly negative” sentiment on the Ethereum market, which he says will be a basis for its strong rebound in the near future. In his prediction, Lee has referenced the historical performance of Ethereum, citing that the times when the altcoin “underperformed peers by two standard deviations,” the price trend saw a …

More than 45 representatives from major Wall Street firms and crypto companies took part in a meeting to discuss Initial Coin Offering (ICO) and cryptocurrency regulations in Washington D.C. September 25. The “crypto roundtable,” hosted by Congressman Warren Davidson in the last legislative session week before elections, gave a chance for industry representatives to express their concerns regarding possible regulations of the crypto space. Namely, experts told lawmakers that there is a pronounced lack of regulatory clarity for ICOs and digital currencies. Roundtable participants discussed “token taxonomy,” aiming to describe the existing uncertainty around the definition of ICO tokens, as …

U.S. stock brokerage firm EF Hutton plans to issue $60 million in various cryptocurrency instruments from January 2019, Bloomberg reported September 13. The latest in a series of crypto-related announcements this month, the company’s parent organization HUTN said it would begin offering “multiple instruments, coins and tokens” which would “generate proceeds of at least $60 million.” The move comes the same week as EF Hutton confirmed it was the major sponsor of a new U.S. cryptocurrency exchange known as ACEx, which also plans to start operating next January along with issuing its own token. “Proceeds will be used to fund …

U.S. stock brokerage firm EF Hutton announced it would release research and ratings of cryptocurrencies and industry businesses for its clients Wednesday, September 5. EF Hutton, whose affiliate Megga Inc. previously launched its own cryptographic token MeggaCoin last year, said in a press release it wants to assist “confused” investors who are keen on gaining a better understanding of the space. “A great many investors are confused by the rapid developments in this new asset class,” CEO Christopher Daniels commented, adding that the move represented “the first of many initiatives” involving cryptocurrency the firm would be taking. EF Hutton researchers …

Financial clearing and execution company Apex Clearing confirmed it planned to open a dedicated cryptocurrency entity in a press release Wednesday, September 5. Apex, which has operated since 2012, will create Apex Crypto to give existing clients access to various cryptocurrencies, initially including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) among others. Investing platforms such as broker dealers using Apex will thus be able to provide cryptocurrency investment opportunities to their own users, the press release notes. The move, CEO Bill Capuzzi says, reflected the “continued surge” in demand for crypto-based investment options. Capuzzi added: “We are …

Fundstrat’s Bitcoin (BTC) analyst Tom Lee has claimed that the cryptocurrency “could end the year explosively higher,” citing a correlation between it and emerging markets. Lee has made his new prediction in an interview during CNBC's "Trading Nation” show August 25. The Head of Research at Fundstrat Global Advisors has said that he “still think[s] it’s possible” that Bitcoin’s price could surge to as high as $25,000 this year. Lee has based this assumption on the relationship between the price of BTC and BlackRock’s iShares MSCI Emerging Markets exchange-traded fund (ETF), which tracks large and mid-sized companies in emerging markets. …

The BlockShow Americas 2018 conference kicked off Monday, Aug. 20 in Las Vegas. The first panel discussion involved a heated debate between proponents of two opposite views of how — and if — blockchain should be regulated and adopted by institutions around the globe. BlockShow is a series of fintech and crypto events, usually held in Singapore and Europe; the previous BlockShow took place in Berlin in the spring of this year. The opening panel, titled “Wall Street vs Crypto,” brought together a number of industry experts to discuss the future potential of cryptocurrencies like Bitcoin (BTC), and the importance …

New research from Sanford C. Bernstein & Co. suggests that revenue generated by cryptocurrency exchanges could more than double to hit $4 billion in 2018, Bloomberg reports August 17. The report, titled “Crypto Trading — the Next Big Thing is Here?,” argues that the protracted crypto bear market is unlikely to impact the burgeoning revenue generated by exchanges. Moreover, “as the crypto-asset class seasons and institutional demand builds,” traditional financial sector firms — including custodians and asset managers — will find “a plethora of opportunities,” the analysts suggest. Bernstein found that in 2017, the buying and selling of cryptocurrencies generated …

Major U.S. consulting firm Boston Consulting Group (BCG) has released an in-depth report August 16, which it dubs a “reality check” for the use of blockchain in the commodity trading industry. For commodities trading, BCG argues that there is a strong argument for using blockchain, while taking stock of “significant drawbacks on several fronts.” The report tackles both the “hype,” but also many of the negative “misperceptions” that distort people’s view of the technology. According to BCG, blockchain at first glance appears to be “a natural fit for the commodity business.” Its power to immutably and transparently record complicated transactions …

A Bitcoin (BTC)-based exchange traded note (ETN) listed on the Nasdaq Stockholm exchange is now being targeted towards U.S. investors, Bloomberg reports Wednesday, August 15. As many in the U.S. clamor to see a Bitcoin exchange-traded fund (ETF) approved by regulators, this so-called “soft” alternative has been trading on the Swedish exchange since 2015, but is now being quoted in dollars under the ticker CXBTF as of Wednesday. The product, dubbed Bitcoin Tracker One, is still technically listed and traded in Sweden, but many consider this latest move to be a gateway for U.S. investors. As CoinShares Holdings CEO Ryan …