CIO of Apollo Capital: Not Investing in Cryptocurrencies is a "Career Risk
Henrik Andersson, CIO of Apollo Capital, said that there will eventually be a point where not investing in cryptocurrencies will be a "career risk."
Henrik Andersson, CIO of crypto asset fund manager Apollo Capital, believes that institutions may soon "flip" on their conservative stance towards crypto. This change could signal a major shift in the way that these organizations view and invest in digital currencies. If more institutions begin to invest in crypto, it could lead to increased mainstream adoption and a bright future for the industry.
There is no doubt that institutional interest in cryptocurrency is growing, albeit slowly. However, there are still many players who are waiting for the right opportunity to invest. In the meantime, crypto funds like ours are doing our best to provide the necessary guidance and support to those who are interested in this burgeoning asset class.
Andersson believes that major institutional investors in Australia will eventually come around to investing in digital assets. He cites retirement funds as an example of an investment vehicle that has yet to fully embrace the potential of digital assets. However, he is optimistic that this will change in the future as more and more investors become educated about the benefits of investing in this space.
“It’s still early days. So yes, speaking to a lot of family offices in Australia and smaller boutique institutions. The big industry super funds are not there yet.”
It is clear that education is still a priority for many people, even though some believe that it will take time for things to change. This is an encouraging sign, as it shows that people are willing to invest in their future and the future of others.
As crypto and blockchain technologies continue to mature, we believe that more and more institutional investors will look to invest in these emerging asset classes. Apollo Capital is well-positioned to provide family office and institutional investors with access to high-quality crypto investment opportunities. We are particularly excited about the potential of the Apollo Capital Frontier Fund, which is focused on nonfungible token (NFT) infrastructure, decentralized finance (DeFi) and multi-chain infrastructure. We believe that these areas of the crypto market are poised for significant growth in the years ahead and offer investors the potential to generate outsized returns.
Andersson believes that institutional sentiment will change when big players start making more substantial moves in the space. This, in turn, will lead to more mainstream adoption of cryptocurrencies.
I believe that at some point the career risk will flip to the opposite, as Andersson explained. No one wants to be the first into something new and risk their career, but eventually people will see the value in taking risks. Things may go wrong at first, but if more people take risks then eventually things will start to go right.
“At some point, when prices go up, then people don’t want to miss out. And if others are making investments, then it will become a career risk not to be invested.”
The banking sector in Australia is set to undergo a major transformation in the coming years, as several large institutions make forays into the digital asset space. This shift will bring a multitude of benefits for both consumers and businesses, including greater convenience, faster transactions and lower fees. With the backing of some of the country's biggest banks, the digital asset space is poised for significant growth in Australia.
This is good news for the digital asset industry, as it shows that the major banks here in Australia are taking an interest in these type of assets. This could mean more investment and growth for the industry, which is great news for everyone involved.
As the cryptocurrency industry continues to evolve, it is important for financial institutions to keep up with the latest trends and developments. CBA was notably the first major bank in the country to announce crypto services through its mobile banking app last year, but later put its plans on hold noting it was still waiting on regulatory clarity from the new government. However, with the release of the new government's cryptocurrency regulations, CBA is now able to move forward with its plans to offer crypto services to its customers.
It is clear that there is a lot of interest in stablecoins and tokenized assets. However, it is still early days and there is a lot of work to be done in this area.
Despite the current bear market, large banking conglomerates such as Singapore's DBS Bank are continuing to grow their digital assets businesses. This shows that there is still strong interest in the crypto space from major financial institutions. Investment banks are also increasing their coverage of the crypto space, indicating that they believe there is significant potential in the industry.
There is still a lot of interest in the crypto space from institutional investors, according to a recent report. Despite the volatility of the crypto markets, major investment banks are still writing research reports on the space. This shows that there is still potential for growth in the sector, and that institutional investors are still interested in the space. This is positive news for the future of the crypto industry, and will help to ensure that the sector continues to grow and thrive.
“So while it seems like its going very slowly now, you know, once the sentiment changes, we see the first players making investments that can change very, very quickly.”
Despite the current crypto winter, institutional investors have maintained their interest in blockchain and digital assets, according to Irfan Ahmad, the Asia Pacific digital lead for the bank’s crypto unit State Street Digital. This is a positive sign for the future of the crypto industry, as it shows that even during times of low prices and low activity, there is still interest from major financial institutions. This interest is likely to translate into more investment and adoption in the future, once the market conditions improve.