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Bank of America Launches Crypto Research Team

by Miki 07/08/2021
by Miki 07/08/2021 0 comment

Bank of America has launched a dedicated cryptocurrency research team in a bid to cash on the growing frenzy around the digital asset market. The new crypto research team would be headed by Alkesh Shah and the focus of the research would also include technology tied to the digital asset market.

Candace Browning, head of global research for Bank of America, said in the memo.

Cryptocurrencies and digital assets constitute one of the fastest-growing emerging technology ecosystems. We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform, and our blockchain expertise.”

Bank of America joins the growing list of US-based banking giants betting big on the crypto ecosystem. Some of the top US banks including JP Morgan, Goldman Sachs, BNY Mellon, and many others have started offering some form of Bitcoin and crypto investment vehicles for their clients.

Crypto Demand Among Institutional Investors at ATH

The demand for crypto products from institutions has reached an ATH and despite any regulatory framework in place, these banking giants have found a way to offer compliant investment vehicles to institutional clients. The likes of JP Morgan who is not a big Bitcoin fan was forced to offer a Bitcoin fund amid growing client’s demand, Goldman Sachs that had called Bitcoin a speculative asset in the past now lists the digital currency among the best-performing assets.

In absence of a regulated Bitcoin product, Wall Street giants have turned to private crypto funds that buy cryptocurrencies and issue shares against them for investors to trade-in. The demand for a Bitcoin ETF has also seen a massive surge in the recent past where former regulatory heads have also called upon SEC to approve the Bitcoin ETF to ensure investor protection and bring more transparency in the market.

The surging investor demand and rising Wall Street participation in cryptocurrencies have also forced regulatory bodies to look into crypto regulations. Many expect SEC to lay the groundwork for crypto regulations soon.

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The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

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      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

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