Jim Ferraioli, Head of Crypto Research at Charles Schwab, stated that the current cycle in the cryptocurrency market differs significantly from past periods. According to Ferraioli, this change is fundamentally driven by Wall Street beginning to use blockchain technology not only to offer investment products but also as a direct part of its financial infrastructure.
Ferraioli stated that Charles Schwab holds approximately $13 trillion in client assets, and that cryptocurrency investments still represent a small share of this total. However, he noted that the company’s clients own about 20% of the assets in spot crypto ETFs, indicating that institutional interest in crypto has now reached a significant level.
According to Ferraioli, the biggest change in the last few years has been that large financial institutions have begun to explore how they can use blockchain technology in their own operations. Recalling that there has been talk for many years about traditional finance and decentralized finance converging at some point, Ferraioli argued that this process has now truly begun.#CharlesSchwabtoRollOutSpotCryptoTrading #BinanceLaunchesBinanceIntelligence $ZEC
