According to State Street, institutional investors are unaffected by the present crypto winter and have retained an interest in <a href="https://www.cryptoknowmics.com/news/mastercard-binance-partner-to-unlock-blockchain-technology-potential/" target="_blank" rel="noopener">blockchain technology</a> and digital assets.

Irfan Ahmad, the Asia Pacific digital lead for the bank's cryptocurrency arm State Street Digital, <a href="https://www.smh.com.au/business/banking-and-finance/investors-aren-t-sweating-the-crypto-plunge-state-street-20220909-p5bgvp.html" target="_blank" rel="nofollow noopener">highlighted</a> that despite the market's significant volatility in June and July in an interview with the Australian news source on September 11. He stated,
<blockquote><em>"During the course of the June, July period where things were really hotting up in terms of activity, we saw institutional clients not necessarily double down, but they weren't really deterred from placing strategic bets on the asset class itself."</em></blockquote>
<h2>Exchange-Traded Funds (ETFs)</h2>
The Cboe Australia exchange listed three cryptocurrency exchange-traded funds (ETFs) from Cosmos Asset Management and 21Shares in May. Meanwhile, asset manager Monochrome has just gained approval to introduce the nation's first <a href="https://www.cryptoknowmics.com/news/why-sec-is-approving-crypto-futures-etfs-but-completely-disregarding-spot-etfs/" target="_blank" rel="noopener">spot crypto ETF</a> with an Australian financial services license in August.

The Cosmos Purpose Bitcoin Access ETF's fund administrator is State Street, and Ahmad informed the news resources that additional cryptocurrency product releases are coming to Australia in the "very near future." However, he did not name any specific companies. He added,
<blockquote><em>"Certainly, our clients, they've been speaking to us more pragmatically about how they might be able to launch products, or what our capabilities may be in the future to help them support the launch of those products."</em></blockquote>
<h2>More Attention To Stablecoins</h2>
In contrast, <a href="https://www.cryptoknowmics.com/news/chairman-of-bsn-china-bitcoin-is-ponzi-stablecoins-are-fine-if-regulated/" target="_blank" rel="noopener">stablecoins</a> and the tokenization of conventional assets have received more attention from the Australian Securities Exchange (ASX). Due to legal uncertainty, the Commonwealth Bank's short-lived crypto trading service shut down permanently in May.

Large American companies, including BlackRock, have recently made significant investments in the cryptocurrency market. To give institutional customers direct access to <a href="https://www.cryptoknowmics.com/news/5-best-cryptocurrencies-to-invest-in-2022/" target="_blank" rel="noopener">cryptocurrencies</a>, the $10 trillion asset manager teamed up with Coinbase last month and introduced a private spot Bitcoin (BTC) trust.

In August, the major financial company Citigroup added two executives, Ryan Rugg and David Cunningham, to its Treasury and Trade Solutions (TTS) division to supervise its institutional cryptocurrency offers.

Institutional Investors Undeterred By Crypto Winter: State Street

Institutional investors are unaffected by the present crypto winter and have retained an interest in blockchain technology and digital assets.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Institutional Investors Undeterred By Crypto Winter: State Street

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