According to Martin, the fact that around $58 million has flowed into ETFs is a convincing sign that the market is seeking regulation within traditional structures. It is worth noting that the Financial Times previously reported on the planned launch of spot cryptocurrency trading by the Chicago Mercantile Exchange (CME).
Martin also expressed optimism about the use of blockchain technology to make financial processes more efficient and transparent.
According to Bullish CEO Tom Farley, regardless of election outcomes in the next couple of years, the regulatory environment in the U.S. will improve.
Farley highlighted the sudden shift in the U.S. policy towards cryptocurrency, including the dismissal of the FDIC chairperson for combating cryptocurrencies, and the passing of the Financial Innovation and Technology for the 21st Century Act (FIT21).
He also noted that traditional, tangible assets are unlikely to migrate en masse. In his view, regulators are more likely to push TradFi firms towards developing private blockchains for settlements rather than using existing ones.