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Close Menu Sign up for our newsletter to start getting your news fix. Prime Trust , which is a Nevada-based trust company which is a bank , agreed to be the first institution of its kind to permit the custody of cryptocurrencies, including Bitcoin. This amount may not seem big, but it is significant because it is legal. Institutional Institutional demand for bitcoin appears to be increasing by Larry Cermak May 13, , They had no custodian of the assets and no insurance, so when they were hacked, the Bitcoin was gone. Get updates Get updates. By the end of April, Grayscale held , bitcoins or just under 1. It is clear by now that cryptocurrencies and blockchain applications are going to revolutionize finance, as well as other industries, but it is also obvious that this must be, and can only be, done by following the established regulations and laws in the United States. So why is it a big deal that a bank wants to hold cryptocurrencies in trust? Twitter Facebook LinkedIn Link adoption analysis bitcoin genesis institutions research demand gbtc grayscale institutional-demand. Sign In. The fund now holds 1. Ethereum Compliance Platform. Jul 23, One of biggest hurdles for any company handling Bitcoin is the risk that the handler can be hacked, in which case the investor loses all of their money. The future is bright for a total disruption of the finance industry. Get in touch with us You want to know more about our product, how we support our customers in the development and integration of Blockchain technology or simply want to get to know us? Learn more. A set of compliance and analytics tools to track and minimize risk of crypto assets flows and, a set of qualified and structured information for crypto asset investors. The regulation as published by the SEC requires the funding portal, such as WeFunder, StartEngine or SeedInvest, to use a qualified intermediary or bank to hold the investor funds in escrow until the company raising capital on that portal has successfully met its minimum investment. Until now, there were no banks who were willing to act as a custodian of digital assets. Moreover, the premium has also seen an increase in the last seven months as institutional demand increases. This free preview of The Block Genesis is offered to our loyal readers as a representation of the highly valuable research and journalism our Genesis members receive daily.
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Tomorrow is a BIG DAY for Bitcoin Holders! The SEC VanEck ETF Decision—BUT THIS TIME IS DIFFERENT!
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