There are reports out this morning that George Soros' family office is ready to start trading digital currencies. This may be a sign that there is enough confidence in the institutional custody arrangements on offer for the institutional community to wade into the sector. This is Soros' family office however, and they may not be required to have the strong custody arrangements required of hedge funds given that they do not manage money for outsiders. My guess is that Soros isn't going to let some underling run around with a bunch of his money on a Trezor, so he must be satisfied with the custody issues.
Nevertheless, the bear market began due to the emergence of our lone gunman and the delay in the expected wave of institutional money. Progress on the institutional custody front should help to turn the tide.
Notice: This does not constitute investment advice.
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