Posted on

Today’s Teens Don’t Like Bitcoin & Crypto: What?

Gen Z Not in Love With Crypto Like Some Thought

You’ve heard what the talking heads say, Millennials, Generation Xers, and Generation Zers will be the first crypto-adopting demographic. You see, unlike baby boomers and those in and above that age range, those in recent generations grew up with technology in their hands, including video games that involved some form of digital money or digital item system, be that gold in Clash of Clans, skins in Counter-Strike or Team Fortress, EVE’s ISK, or what have you.

And, it has been a common trend that some of Bitcoin’s most staunch critics would be deemed “senior”. Just look to Warren Buffett, Peter Schiff, and Kevin O’Leary. These three investors have all bashed the leading crypto asset within the past few months.

Thus, many have drawn conclusions that the logical step will be for these technology adopters to find their way into the cryptocurrency industry to instantly fall in love with Bitcoin and its ilk.

According to a recent Business Insider report, a majority of those aged 13 to 21 surveyed by the outlet are not entirely bullish on Bitcoin. In fact, 52% of the 1,884 American respondents claimed that they are likely not going to invest in digital assets within the next six months.

how likely gen zers to buy cryptocurrency in the next six months

It is important to note that this doesn’t mean Generation Z is bearish on Bitcoin per se. Instead, the harrowing figure may suggest that there is a lack of fiat onramps into the ecosystem for younguns, made clear by the fact that if you are legally considered a minor, it is very difficult for one to obtain Bitcoin or other digital assets with a debit card or PayPal. Also, this statistic could also be a sign that there aren’t enough proper educational portals for American teens about the value proposition of Bitcoin and cryptocurrency.

Still, with a mere 5% of Americans between 13 and 21 years of age claiming that they are most likely going to purchase cryptocurrency within the next half-year, it is apparent that there’s a copious amount of upside to be had. How can the upside be captured though? This writer has a few ideas

More likely than not, Bitcoin and crypto adoption via this demographic will not be had through inundating social media feeds with macroeconomic trends and why BTC is fiscally better than fiat currencies. Instead, adoption of this budding asset class could be achieved by showing how crypto and related technologies can improve the efficiency of transactions and digital processes.

Title Image Courtesy of Unsplash

The post Today’s Teens Don’t Like Bitcoin & Crypto: What? appeared first on Ethereum World News.

Posted on

Coinbase Explores Bitcoin-Backed ETF With Wall Street Giant

Coinbase Hints At Plans For ETF 

Bitcoin-backed ETFs have been the topic of discussion throughout the cryptosphere over the past few months, as investors and traders claimed that a single publicly-traded ETF would revive the otherwise slumping market. And it seems that this discussion may continue, with those familiar with the matter recently revealing that Coinbase has its eyes on establishing a crypto-focused exchange-traded fund (ETF) in a bid to attract retail investors.

It is important to note that the planned ETF will likely track a variety of cryptocurrencies, not just Bitcoin, possibly indicating that the firm is continuing to look at more crypto assets to add to its already expansive ecosystem.

Although this news was somewhat to be expected, as Coinbase has become well-known for being the primary home of innovation in the cryptosphere, insiders revealed that the firm has sought help from Wall Street giant BlackRock to aid in the establishment of this vehicle, reports Business Insider.

For those who are unaware, BlackRock is a New York-based, yet multinational investment management corporation with over $6.3 trillion worth of assets under management. As reported by Ethereum World News previously, BlackRock has hinted at making a meaningful foray into the cryptocurrency & blockchain industry, so it would make sense for Coinbase to team up with such a firm.

Those familiar with the cryptocurrency company went on state that in recent weeks, Coinbase has been incoinbase adds 100k users contact with individuals from BlackRock’s blockchain-focused division to “tap into the firm’s expertise” of launching exchange-traded investment products. According to the aforementioned insiders, representatives from the Wall Street firm’s blockchain branch were unable (or did not want to) give any direct advice to the San Francisco-based crypto startup at this time.

As Business Insider went on to report, it remains to be seen whether Coinbase’s involvement and discussion with BlackRock are ongoing or just a one-off event, but many optimists hope that it is the former, as a long-term relationship between the two may lead to interesting crypto-focused products, services, and investment opportunities.

The current climate around Bitcoin ETFs is rather contested, with the SEC recently making a series of moves to deny and delay a multitude of ETF proposals from an array of firms, whether said firms hail from crypto-focused or legacy market-centric backgrounds.

But as covered by Ethereum World News, the CEO of crypto startup Abra recently stated that the SEC’s denial verdict is somewhat valid, as the firms backing the ETF applications don’t “feel, smell or look” the part of a traditional financial institution. So the fact that Coinbase could be potentially working with BlackRock, an evidently well-established financial institution, may signal that an ETF application spawned from a collaborative effort between the two firms could see regulatory approval in the near future.

Photo by Luca Bravo on Unsplash

The post Coinbase Explores Bitcoin-Backed ETF With Wall Street Giant appeared first on Ethereum World News.

Posted on

Coinbase Custody Service Secures Major Institutional Investor Worth $20 Billion

Earlier this month, the popular cryptocurrency exchange known as Coinbase, announced a new digital asset storage service for institutional investors and high net individuals. This new service by the exchange was given the name of Coinbase Custody and the announcement was made via the exchange’s twitter page as well as its official blog. The tweet announcing the service can be seen below:

It is with this background that news has surfaced of the Custody service attracting a major hedge fund that is valued at over $20 Billion. According to Business Insider and, the name of the hedge fund has not been disclosed by the unnamed sources who provided the information. The team at Coinbase is also planning on securing more hedge funds to sing up for the Coinbase Custody storage service. Coinbase has also been reported of planning to offer margin finance as early as by the end of the year.

Greenwich Associates’ consultant Richard Johnson, had this to say about the future of Coinbase:

Coinbase is pursuing a lot of different initiatives that make sense and take it closer to or are more similar to traditional finance: custody, financing, lending, security tokens, and the institutional portal. They have the resources to fund them and will surely have some successes.

After the release of the Coinbase Custody service, Ethereum World News had done its own analysis on the possible outcomes of Institutional Investors and high net individuals getting into cryptocurrency investing due to the secure storage available at Coinbase.

Three possible scenarios on the future of the Crypto-markets were explored:

  1. The Coinbase Custody service becomes a gateway for the institutional investors and high net individuals to get into crypto. This means that the anticipated ‘big money’ from Wallstreet will finally make it into the crypto-markets
  2. All the digital assets that Coinbase currently supports (BTC, ETH, ETC, LTC and BCH) will probably skyrocket in value leading to a possible overall crypto bull run as the one witnessed last December into January this year
  3. Coinbase probably is gunning for a banking or brokerage license by aligning itself to the regulation of SEC by listing only what has been given the go ahead by the government authority

In conclusion, the news that Coinbase has managed to attract a $20 Billion worth hedge fund is good news for not only the crypto-exchange, but for the entire crypto markets for this is a sign of more institutional investors and high net individuals getting into crypto investing.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.