Wintermute CEO: ‘Retail investors’ return is a signal Bitcoin is set to rebound’

Wintermute’s chief executive officer (CEO) said the cryptoasset (cryptocurrency) market, which has been stuck in a recent downturn, will need retail investors to return in order to stage a rebound.

According to industry sources on the 17th (Korea time), Wintermute CEO Evgeny Gaevoy said in an interview with CNBC that “whether retail investors return—rather than institutional investors—will be the key signal of a market rebound” with regard to crypto market trends.

He added that “the market is currently in a phase of deciding which assets and technologies investors prefer,” and that “capital is not leaving the crypto market; it is being reallocated within the ecosystem.”

Gaevoy pointed to tokenized gold as an example. He said that “in the past, crypto investors were interested in institutional investment in Bitcoin (BTC), but recently attention has shifted to tokenized gold.”

Exchange-traded funds (ETFs) were also cited as an important factor in determining whether the market rebounds. Gaevoy said, “While exchanges such as Binance have led crypto trading volumes, there have recently been many cases where ETF trading volume surpassed that,” adding, “it is necessary to pay attention to ETF inflows and outflows.”