Bitcoin

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UK asset management firm M&amp;G Plc announced it has invested $20 million in the bitcoin derivatives exchange, <a href="https://www.gfo-x.com">Global Futures &amp; Options Holdings (GFO-X)</a> looking to support “regulated trading of digital assets” and meet demand from institutional investors. 
GFO has a partnership with London Clearing House, which is regulated by the Financial Conduct Authority (FCA) and will act as a clearing house and trading venue for digital currency asset derivatives. 
The funding was led by M&amp;G’s public equity investment division, and provided by M&amp;G’s Crossover strategy in a series B funding round on behalf of its £129 billion <a href="https://www.mandg.com/pru/customer/en-gb/funds/investment-fund-range/with-profits">Prudential With Profits Fund.</a> 
<h3 id="lack-of-regulated-venues-hampering-growth">Lack of Regulated Venues Hampering Growth&nbsp;</h3> 
Since <a href="https://cryptonews.com/news/crypto-prices-crash-as-ftx-crypto-exchange-collapses-what-we-know-so-far.htm">the collapse of ​​FTX,</a> a cryptocurrency exchange that facilitated spot, derivatives, and leveraged trading for cryptocurrencies sent the price of Bitcoin to its lowest price since 2020. Over the years there has been a lack of trust in the space and a call for more regulation around exchanges. 
“The lack of regulated trading venues is materially hampering the growth of the digital currency trading market,” said M&amp;G Portfolio Manager, Jeremy Punnett, in a press release. 
“The UK has the potential to become a global hub for digital asset technology and investment, making London an excellent destination for GFO-X’s new global trading venue. This investment enables GFO-X to scale its operations as the business is set to benefit from investors shifting their trading from unregulated to regulated venues,” adds Punnett. 
M&amp;G went on to highlight that GFO-X will target traditional financial institutions wanting to trade digital currency derivatives in a safe and regulated venue. 
According to M&amp;G A 2022 survey showed there is significant demand from institutional investors for infrastructure. &nbsp;It is estimated 91% of institutional investors are interested in tokenised products, 41% currently hold cryptocurrencies and a further 15% plan on adding digital assets to their portfolios over the medium term.

M&G Invests $20M in UK Bitcoin Derivatives Platform GFO-X

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