Institutional appetite continues to grow amid bear market — BitMEX CEO

Alexander Hoptner, chief executive of BitMEX, shared his views on institutional investors, who he believes still have a desire for crypto and Ethereum in a recent interview.

Cointelegraph was told by a crypto executive at the Token2049 conference held in Singapore on September 28th that there has been no slowdown in institutional investment into crypto during this bear market.

He said that bear markets are a common place for innovation in institutions and the finance industry. Bull markets are more demanding, but bear market investors have the luxury of longer delivery times.

Hoptner said that adoption in the financial industry is long-term. This is why institutions will buy and hold crypto assets, while the reverse can be said for retail.

When asked if institutions or retailers would end the bear market, he replied that retail was still pulling out while institutions were still pushing.

“I believe that institutions are now ready to provide services, and retail will return and push it up again.”

BitMEX’s boss is convinced that institutions will begin to invest in Ethereum after it switches to proof-ofstake and addresses the Environmental, Social, and Governance concerns.

He said that Ethereum was the best protocol to build stuff on, before commenting on the Merge’s recent deployment and adding “this event is the ideal public occasion to build financial products to ESG conformity.”

He stated that ESG conformity is crucial at the moment and that institutions can offer products that are truly for a broad audience while still checking one box that they have for compliance.

Related:Three-quarters of institutions to use crypto in the three years: Ripple

Hoptner mentioned the $3,000 figure for ETH prices by year end. Hoptner believes this is possible, especially since the network has become more eco-friendly and large banks use it. ETH trades up 3.8% in the last 24 hours to $1,336 at the moment. It still has a lot of work ahead of it in the next three-months.

Cointelegraph reported last week that liquid staking products like Lido’s STETH are more lucrative and efficient than regular ETH. They will become more popular, while hodling ETH may become obsolete.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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