Traditional financial institutions including JPMorgan and Goldman Sachs have reportedly purchased shares in the Electronic Trading Platform (ETP) which offers pokaldot crypto investments (DOTs) for clients.
Based on CoinDesk, data from Bloomberg shows Goldman Sachs, ICAP, JPMorgan, UBS, Kepler Securities, Instinet, and other Wall Street players have bought shares in Switzerland-based 21Shares ‘ETP. Earlier this month, 21Shares launched the world's first Pokaldot ETP exchange.
This news also brings an indication that the tastes of institutional investors have begun to change, where they are beginning to plunge into crypto investment. Investing in ETP means that the company's customers do not invest in DOT directly but through intermediaries. Investing in ETP also does not require downloading special software to use the wallet or about how to use the crypto.
It is reported that UBS has bought 2770 shares. JPMogan bought 500 shares, ICAP 1,000 shares, and Bank of America Merril Lunch bought 2,200 shares.
Polkadot is an open-source protocol developed for the public, emphasizing on protection, scalability and innovation. The value of the holdings has grown to more than $ 15 million in assets under ETP management.
Developed by two former Ethereum executives, Gavin Wood and Jutta Steiner, Polkadot has two types of blockchain; the main network is known as Relay Chain while the network developed by the user (or individual blockchain) is known as Parachain (parallel blockchain).
The DOT has increased 86.2% in the last 30 days and has become one of the largest cryptocurrencies in terms of market capitalization.
