• For institutional funds to be able to invest in the crypto-economy, the infrastructure needs to develop further. Some early movers have benefitted from offering basic services to the crypto-economy e.g. wallets, fiat on-ramp, vanilla and derivative exchanges.
  • There is a need for custodians, brokers and origination platforms amongst other solutions to develop before we see institutional buy-in.
  • The economics will be centralized as the infrastructure is built out, we’ll be investing in this first stage through traditional equity structures