Institutional Investors the Largest Buyers of Crypto Transactions Over $100K

Institutional investors have replaced high net-worth individuals as the biggest buyers of cryptocurrency transactions worth over $100,000, Bloomberg reported October 1.

According to Bloomberg, traditional investors and buyers such as hedge funds have become more involved into the $220 billion cryptocurrency market through private transactions. Bloomberg also notes that miners — the biggest sellers on the market — have begun scheduling regular coin sales instead of holding or offloading them during market rallies.

Bobby Cho, global head of trading at the Chicago-based cryptocurrency trading unit of DRW Holdings LLC, Cumberland, told Bloomberg that “the Wild West days of crypto are really turning the corner,” and that the situation demonstrates “the professionalization that’s happening across the board in this space.” Cho said:

“One of the biggest criticisms of crypto by institutional investors has been the volatility. Over the last four to six months, the market has been…