“We’re seeing a few different streams, whether it’s Congress, regulatory agencies, or the White House itself, really kind of willing to partner and listen to industry advocates.” – 03:34
Patrick Liou, Director of Institutional at Gemini, joins Remy Blaire at the New York Stock Exchange to discuss the current state of the cryptocurrency market, particularly focusing on Bitcoin and major altcoins as they attempt to recover from a recent downturn triggered by disappointing U.S. jobs data.
Patrick provides valuable insights into the recent trading activity across various asset classes, with a specific focus on cryptocurrencies. Patrick discusses Bitcoin’s recent price movements, noting that it has dipped from its highs around $120,000 to approximately $112,000, largely due to macroeconomic factors. Despite this pullback, he emphasizes that July marked Bitcoin’s highest monthly close ever, suggesting that such dips can be healthy and corrective.
Finally, the pair explore the recent approval of inclined ETF trades by the SEC and what this means for institutional access to cryptocurrencies. Patrick explains how this development simplifies the process for traditional investors and enhances operational efficiencies within the crypto market.