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Bitcoin [BTC]: Strongest reason for price rise is evolution of different players coming in, says ErisX CEO

Priya

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Bitcoin [BTC]: strongest reason for rise is evolution of different players coming in, says ErisX CEO Chippas
Source: Unsplash

Tom Chippas, CEO of ErisX Digital, spoke about the price rise of Bitcoin and institutional investors, one of its speculated reasons, during an interview with TD Ameritrade Network. On the rise, the CEO stated that there were several catalysts that could have been the reason, adding that the “strongest” reason would be the continued maturation and evolution of “different players coming into the space.”

Tom Chippas stated,

“Exchanges and clearing houses like ErisX, you have everyone with retail interest obviously with the folks that did invest in ErisX, a lot of retail interest. We also are aware of growing institutional investment funds.”

This was followed by the CEO speaking about what institution meant. Chippas stated that there were different types of institutions, including retail brokers that offer services such as registered investment advisers to help individuals make an investment decision and give investors the tools to manage their portfolios. He further stated that there were traditional asset managers who manage mutual fund assets, as well as alternative asset managers/hedge funds that have their own investment practices and focus.

He went on to state,

“[…] I think there’s a lot of different folks involved and it’s really important to differentiate between all of them. I would say that retail continues to grow and people have had an interest in retail and there are other venues other than ErisX they would be able to go to previously […]”

Further, Chippas spoke about ErisX’s focus, stating that the firm was working with these retail intermediaries in a way that an investor who’s already participating in equities, options, and futures market could get into the crypto-market with the same tools and advisers. He added,

“[…]institutional folks are operating funds already, that invest either exclusively in Bitcoin or they invest in multi-coin funds as well. So, we’ve seen both. I think it’s all happening, it’s just not happening every day on crypto-twitter but we see it happening in […] trading.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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