Market maker Gravity Team CEO: US digital asset reserves should be based on Bitcoin

Odaily reported that Martins Benkitis, the co-founder and CEO of market maker Gravity Team, believes that any digital asset reserves suggested by the executive order of former President Trump should be based on , which applies to any country considering establishing digital asset reserves. Some have interpreted the narrative of turning to digital asset reserves as a sign that the Trump administration may include other digital assets. While Benkitis acknowledged that other digital assets can also be included in the reserves, he suggested that this should be done in phases at a later stage. He drew an analogy between this approach and the approach taken by the US SEC when launching cryptocurrency ETFs. Before considering ETFs for other digital assets, the SEC only focused on ETF applications. It was only after approving the first ETFs that the SEC began to consider ETF applications for , , and other digital assets. Furthermore, Benkitis warned that if the US government decides to include other assets in the reserves, volatility could surge, "If they expand the net assets, the liquidity of multiple assets will increase significantly, and as the market adapts to the included assets, we may see increased volatility. Some assets may skyrocket overnight due to speculation that they are part of the US reserves. Market makers need to be keen to adjust spreads and manage asset risks." Regarding Trump's new interest in cryptocurrencies and its potential impact on the market, Benkitis agreed that this will lead to a surge in demand for "deep" liquidity. This in turn means that market makers need to "expand" liquidity operations in different jurisdictions to ensure the market remains deep and stable.