Bitcoin price fluctuations did not affect the general interest in cryptocurrency futures, said executive of a brokerage firm, TD Ameritrade.
TD Ameritrade Brokerage Executive Vice President Steven Quirk expressed his opinion during a discussion at CoinDesk Consensus 2019 this week. He said:“We get calls, emails, 60,000 clients have traded something in this complex,” Steven Quirk, TD Ameritrade executive vice president, remarked during a panel at CoinDesk’s Consensus 2019. As Quirk said later: “As soon as you open the door, you’re going to get a lot of people” looking to participate in the market.
He also noted that attendance of Bitcoin-related educational activities conducted by the company was “beyond the limits”, and that this intense interest was shown not only by “millennial” but also by older retail investors. Similarly, TD Ameritrade found that investment advisors were equally interested in Bitcoin futures, as were the company’s “exclusively retail” customers.
Quirk’s discussion fellow Thomas Chippas, CEO of the ErisX exchange (in which TD Ameritrade invested ) also commented on the attitudes of institutional investors. He noted that these clients are beginning to invest, but this is not a quick process and one should not expect haste from people “who create news motivations for the media.”
Quirk also confirmed the idea that many institutional investors wait for an ETF to appear before investing in Bitcoin. Quirk and Chippas noted that there is a demand for Bitcoin supply futures, which will allow traditional risk management tools to “function better”.
As for thinking about the future of digital assets, Quirk compared the current market with the bubble of Internet companies in the 1990s. Although the bubble eventually burst, successful firms emerged, such as Apple, Amazon, Netflix, and Google.
Last year, TD Ameritrade bro...