ICE is launcing their BAKKT exchange in a few weeks for the institutional money to pour into the cryptomarket. Coinbase wisely repositioned itself to service those of us with modest assets in their portfolio, rather than competing with ICE. It is likely that as the cryptocurrency market expands to trillions in valuation, the "retail" type exchanges, like Coinbase and Gemini, will be purchased by more established financial providers, partly because these exchanges lack the experience, lobbying power, and financial network to accomodate the increased flow of capital.

When the cryptocurrency market rapidly increased in valuation in 2017, these "retail" exchages could not accomodate even increased application for verification process. It is unlikely that the "retail" exchanges can survive without mergering with the established financial institutions when the institutional capital flows in.