Signs of regulation very bullish sign for cryptocurrency - State Street Digital's Nadine Chakar

Nadine Chakar, executive vice president of State Street Digital, said Monday that "the promise of regulatory clarity" has brought more participants into the cryptocurrency market, which she calls a "very bullish sign" for the asset class. Chakar told CNBC that the lack of a regulatory framework has made some institutional investors skittish about crypto, leaving a market dominated by retail traders and, therefore, more susceptible to volatility. "Institutional investors need more scalability, more certainty," she said. However, recent public statements by regulators, such as Gary Gensler, chair of the U.S. Securities and Exchange Commission, have suggested that a more defined regulatory infrastructure is in the works, Chakar asserted. "That would definitely be a boon for crypto trading," the State Street Digital EVP said of the additional oversight. Chakar said she was hopeful a Bitcoin (BTC-USD) ETF would be approved by the end of the year. She also called Bitcoin a