Coinbase Global Inc (COIN)

[Investors3]

Coinbase's David Duong: Bitcoin ETFs Introduce a New Era of Crypto Investment
The head of research for the leading crypto exchange outlines how institutional access to bitcoin will change the crypto market for good.
ROB NELSONNOV 28, 2023 8:00 AM EST

As the world of cryptocurrency prepares for a flood of traditional capital, Roundtable anchor Rob Nelson sat down with David Duong, head of research at Coinbase, to discuss the latest trends and future prospects of bitcoin, particularly in the context of institutional investment.

Coinbase, a leader in the crypto space and one of its most prominent publicly-traded companies, has been at the forefront of regulatory and market dynamics, making this conversation especially timely.

Duong emphasized a significant shift in 2023, highlighting the applications for spot bitcoin exchange-traded funds (ETFs) as its indicator. These ETF applications are not just trying to introduce bitcoin to a broader range of institutional investors, but they are also paving the way for novel financial products in the crypto space. Such products are set to enhance the tradability of bitcoin and digital assets across various institutions. This development, according to Duong, is crucial for the market, as it brings regulated, compliance-friendly instruments that can diversify the applications of bitcoin and other cryptocurrencies.

Nelson further emphasized the potentially-transformative impact of these ETFs, particularly in how institutional players might be underestimating the power they are unleashing by integrating bitcoin into mainstream finance. He posited that the introduction of bitcoin at this level could be irreversible and significantly beneficial.


Duong dissected this trend further, explaining that the introduction of bitcoin ETFs is not just about accessibility, but also about the narrative driving people toward bitcoin. He differentiated the financial innovations of bitcoin from its technological aspects, suggesting that the former might have a stronger appeal to institutional investors. In a world where traditional safe-haven assets are becoming scarce, bitcoin presents itself as a viable alternative, especially in light of recent geopolitical events that have challenged the dominance of traditional fiat currencies.

This engaging discussion with Duong and Nelson shed light on the evolving role of bitcoin in the financial world. From a novel technology to a potential staple in institutional portfolios, bitcoin's journey reflects the dynamic nature of financial innovation and the ever-changing landscape of investment strategies.

https://www.thestreet.com/crypto/innovation/coinbase-david-duong-bitcoin-etfs-introduce-new-era-of-crypto-investment