Conventional finance is going further down the crypto bunny opening than you may think.

Goldman Sachs, ICAP, JPMorgan, and UBS have purchased initial item that is exchange-tradedETP) that offers experience of Polkadot’s DOT cryptocurrency for clients, according to Bloomberg terminal information reviewed by CoinDesk.

These banking institutions and brokerages bought lower amounts of shares in Switzerland-based 21Shares’ ETP, the info programs. The shares debuted Feb. 4 regarding the SIX Swiss Exchange at a high price of $22-23 and also have since climbed to $30.

The acquisitions recommend institutional investors’ appetite for crypto exposure in the current bull market goes beyond the market bellwether bitcoin (BTC, +5.18%), or even its competing ether that is closest (ETH, +8.68%). The DOT token’s market capitalization is over $19 billion, rendering it the crypto that is fifth-largest in accordance with CoinGecko information. The brainchild of Ethereum co-founder Gavin Wood, Polkadot is really a blockchain network that supports various sub-chains which can be interconnected parachains.

To be clear, these customers aren’t investing in DOT itself, but alternatively a safety that tracks its performance. They won’t have to download software that is special run a wallet, additionally the ETP satisfies the mundane needs of conventional investing, such as an Global Securities Identification Number.

“We’ve seen the interest in trading cryptos increase markedly,” said Michael Lie, head of digital asset trading at Flow Traders, market manufacturer in crypto ETPs. “These items are an method that is simple gain experience of cryptocurrencies, and never having to be worried about custody.”