A lot has happened in the last 1.5 weeks – IronChain Capital has launched two new index funds – IronChain Mix10 and IronChain Mix10 Institutional. Tracking the top ten cryptocurrencies, these new indices will allow investors to invest directly with US Dollars.

Additionally, the Chicago Mercantile Exchange partnered with Crypto Facilities to launch two Ethereum indices, providing investors with yet another means of gaining exposure to the second biggest cryptocurrency by market cap – Ethereum.

It was Ethereum which topped the list of the newly created and recently released CCID index – an interesting move by the Chinese Government and in our view, a bullish and exciting one.

Other notable contenders were Steem, Lisk, NEO and Komodo among others. Bitcoin did make the cut albeit in 13th place, echoing the modest results of the Weiss Ratings review earlier in the year.

We’ve also heard that ICE, the owner of the NYSE stock exchange is developing a cryptocurrency trading platform. This development coupled with the fact that Goldman Sachs is already trading Bitcoin futures for their clients, should fill investors with confidence.

Goldman are also about to implement their own non-deliverable forward (a type of futures contract) which we continue to view as a positive step towards institutional adoption.

Of course, Blankfein has just resigned from the investment bank so Goldman’s position is now less clear however, we do not expect to see any significant change in policy towards cryptocurrency.

To the dismay of many, Consensus 2018 did not lift the price of Bitcoin but the event did attract more than 8,000 people which is a nice increase from the roughly 2000 attendees in the previous year.

Despite the market downturn, we believe that there is a great deal of upside potential ahead and we’re not alone. Fundstrat Global Advisors Managing Director Tom Lee told CNBC that he is even more bullish after attending Consensus – he has put a price target on Bitcoin of reaching $64,000 USD by 2019.