Henrik Andersson, chief investment officer of crypto asset fund manager Apollo Capital, believes institutions may soon “flip” on their own conservative stance toward crypto.
Talking with Cointelegraph, the Melbourne-based crypto fund manager stated that although institutional curiosity about crypto continues to be slow in obtaining, specifically in Australia, there are plenty of players which are waiting for the best moment to strike.
Andersson accepted that major institutional investors around australia, particularly retirement funds (or superannuation funds) haven’t yet warm to the digital asset space:
“It’s still beginning. So yes, speaking to numerous family offices around australia and smaller sized boutique institutions. The large industry super money is not there yet.”
“From their perspective its still lots of education happening. Therefore it will still take a moment, In my opinion,” he added.
Apollo Capital is really a fund manager centered on supplying family office and institutional investors use of crypto investment possibilities. Certainly one of its latest launched funds may be the Apollo Capital Frontier Fund, which is centered on nonfungible token (NFT) infrastructure, decentralized finance (DeFi) and multichain infrastructure.
Requested what must happen for institutional sentiment to alter, Andersson believes this can “flip” when big players begin to make larger moves within the space.
“No one wants is the first into something similar to this. If you’re the first and things fail, then there is a career risk. Which will switch sooner or later towards the opposite,” described Andersson:
“At some time, when prices increase, then people shouldn’t lose out. And when other medication is making investments, then it is a job risk to not be invested.”
Around Australia, several large financial institutions for example ANZ, NAB and Commonwealth Bank (CBA) happen to be making forays in to the digital asset space.
“We’ve seen some of the major banks within Australia, taking a desire for digital assets. So that’s really, great to determine,” he stated.
CBA was particularly the very first major bank in the united states to announce crypto services through its mobile banking application this past year, but later put its intentions of hold noting it had been still waiting on regulatory clearness in the new government.
Others have pressed forward with stablecoin and tokenized asset buying and selling.
Worldwide, large banking conglomerates for example Singapore’s DBS Bank are continuing to develop their digital assets business regardless of the bear market, while major investment banks are also strengthening their coverage from the crypto space.
“You have virtually all of the investment banks on the planet writing research reports around the crypto space. Everybody from Goldman Sachs to Morgan Stanley, Citigroup, JP Morgan yet others. So there’s certainly still lots of curiosity about the area from individuals types of institutional players,” he described:
“So although it appears like its going very gradually now, you realize, when the sentiment changes, we have seen the very first players making investments that may change very, very rapidly.”
The 2009 week, Irfan Ahmad, the Asia Off-shore digital lead for that bank’s crypto unit Condition Street Digital, told Sydney Morning Herald that regardless of the current crypto winter, institutional investors have maintained their curiosity about blockchain and digital assets.