Institutional Appetite Continues to Grow in a Bear Market - BitMEX CEO

Institutional appetite for Ethereum will grow now that the network is ESG compliant, says BitMEX boss.

In a recent interview, BitMEX CEO Alexander Höptner shared his thoughts on institutional investors who he says still have an appetite for crypto and Ethereum.

Speaking at the Token2049 conference in Singapore on September 28, the crypto chief told Cointelegraph that there hasn't been "a single downturn in the institutional push into crypto" during this market bearish.

He added that institutions and players in the financial sector typically use bear markets to innovate. There is a lot more pressure to deliver in a bull market, but bear markets offer the luxury of more time.

Höptner also pointed out that adoption for the financial sector has a long-term horizon, which is why institutions will buy and hold crypto assets while the opposite can currently be said for the sell sector. retail.

When asked if institutions or retail would end the bear market, he replied that retail continued to pull back while institutions continued to push, before adding:

"I think institutions are now gearing up to deliver the services and retail will come back and bring it back up."

The BitMEX boss is also confident that institutions will start reinvesting in Ethereum now that it has moved to proof-of-stake and addresses environmental, social and governance (ESG) concerns.

"Ethereum is the perfect protocol to build things on," he commented before adding "it's the perfect public event to create ESG-compliant financial products," in reference to the newly deployed fusion.

Right now, ESG compliance is paramount, he said, adding that institutions...