Guy Hirsch, US Managing Director of cryptocurrency trading platform eToro, recently told ETF Trends in an exclusive interview that the biggest barriers to institutional investment in cryptocurrency was the lack of reliable custodian services.

“In order to attract more institutional investors, crypto platforms and exchanges will also need to solve the custody issue,” he said. “Custodial concerns are extremely important for CIOs, and if they are unfamiliar with the brand of the custodian of the asset, they won’t get comfortable getting involved in the market.”

Asa Bitcoin’s bear market has dragged on, more and more institutions have scaled back their cryptocurrency plans. Almost a month ago, Barclays denied reports that it was planning to open a crypto trading desk.

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