(Bloomberg) — Institutional investors yet to touch cryptocurrencies will begin to involve themselves with the tokens more heavily in the next decade, according to Cowen Inc. Chief Executive Officer Jeffrey Solomon.
“We’re certainly seeing an up-tick in people that are interested in doing it — the ‘crypto-curious,’ I call them,” Solomon said Friday in an interview on Bloomberg Television. “We’ve seen mostly retail involvement and a little institutional involvement, but we think we’re in the very, very early stages of significant participation by institutions.”
One limiting factor is whether firms will be living up to their fiduciary responsibilities by exposing themselves to the currencies, which are known for volatility, Solomon said.
Cowen announced in May that it would offer custody services for digital currencies. Bank of New York Mellon Corp. and U.S. Bancorp are among companies that have taken similar steps, partnering with financial technology firms.
More stories like this are available on bloomberg.com
©2021 Bloomberg L.P.
