Mark Carnegie, co-founder of Australian investment firm Carnegie, said on Sky News that interest in cryptocurrencies will increase again. Stating that events such as the Terra LUNA and FTX collapses occurred due to the lack of sufficiently reliable investment funds, the experienced analyst stated that the steps of BlackRock and Fidelity are very important.

“Love it or hate it, it’s coming”

Stating that losses due to bankruptcies led many people to cool down from the crypto sector, Mark Carnegie said:

“The fact that BlackRock, the world’s largest asset manager, requested a Bitcoin ETF almost legalized this asset class. Fidelity is doing the same. The bankruptcies last year took a lot of people out of the industry. But like it or not, this wave is coming. Opening these products to retail investors will provide protection for this group. People will find a safe way to invest in the face of the terrible events of last year. This will increase interest significantly.”

“Institutional support is increasing”

Stating that people now trust certain cryptocurrencies, so the content of the funds created is very important, Carnegie stated that being able to exit investment funds at a fair price is as important as security:

“The demand for investment funds is growing. Support at the institutional level is also growing. A secure crypto fund investment is now also necessary for the retail investor… The small investor is now more vocal about this demand. As regulations improve, funds will develop. The cryptocurrencies with which these funds are created, the liquidity and security of these cryptocurrencies are very important. In addition, the investor should be able to exit the fund at any time at a fair price. As all these improve, demand will increase.”