Last week I wrote how Morgan Creek Digital made a splash when it raised over $40 million for a new crypto venture capital fund.
The significance… the fund is anchored by two public pensions and several other institutions invested including a university endowment, a hospital system, an insurance company, and a private foundation.
It’s a great sign institutions are getting into crypto.
And the trend is gaining steam… more on that below.
Cambridge Associates, a financial advisor for pensions and endowments, recently said in a report:
“Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term.”
Cambridge manages over $300 billion for institutions.
And the assets under management for pensions and endowments is over $30 trillion each.
So even a little bit of pensions and endowments going into cryptos would be a huge flow of money.
or Abra
and trade cryptos on Binance and Bibox...
And delegate SP with MinnowBooster
I can see the market cap of crypto going to areas no one would even dream about once this starts getting momentum.
Me too, it's about to get rolling. Wait till Bakkt and ErisX, and Fidelity custody come on line.
Hey @g-dubs do we know when they are coming online? I know Bakkt had been put on hold twice now from their launch dates as they are waiting for the SEC.
No one knows for sure but just a matter of time.
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