Bernstein analyst: Cryptocurrency is moving towards a "one-stop" multi-asset investment platform

PANews March 24th news, according to Theblock, Bernstein analysts said that as the exchange and broker/dealer models begin to merge, the crypto industry is moving towards a more integrated "one-stop" multi-asset investment platform. Coinbase is in deep negotiations on the acquisition of Deribit, Kraken is about to acquire NinjaTrader, and Robinhood is integrating Bitstamp.

"As the regulatory environment relaxes, crypto exchanges and brokers/dealers are undergoing strong M&A actions," analysts led by Gautam Chhugani wrote in a report to clients, as traditional brokers seek to offer crypto tokens, while crypto exchanges plan to integrate traditional stocks and derivatives.

Analysts believe that the U.S. crypto derivatives market has huge growth potential, as offshore markets such as perpetual futures are three to four times larger than spot markets. They said that Bitcoin and Ethereum futures trading outside the United States was $31 trillion last year, while the Chicago Mercantile Exchange annually traded at about $2.5 trillion.

Meanwhile, the U.S. crypto options market is still in its early stages, mainly limited to Bitcoin futures options on the Chicago Mercantile Exchange. However, as the US SEC and CFTC support for encryption increases, analysts expect the market for spot and derivative crypto products in the United States to expand. They noted that this could lead to crypto platforms providing traditional assets and vice versa, allowing broker platforms to provide a wider range of assets.