As we announced today, the parent company of the world’s largest stock exchange NYSE is creating an online trading platform for institutional investors to buy and hold Bitcoin.
NYSE’s parent company Intercontinental Exchange (ICE) reported that they plan to offer traders a swap contract that will allow their customers to receive Bitcoin the next day.. This type of contract creates more sources of legitimacy for cryptocurrencies. Because trading takes place under the supervision and regulation of the U.S. Commodity Futures Trading Commission (CFTC).. This is projected to create greater trust in Bitcoin, thus bringing in more money flow.
Broadly speaking, this move means greater acceptance on Wall Street, according to the news in Fortune. and thus revealing that some financial powerhouses are demanding access to Bitcoin, a digital currency with which they have been separated for years. Cameron Winklevoss told CNBC that Bitcoin is a multi-trillion dollar asset.
Wall Street is moving faster than expected
Wall Street will take an active role in the cryptocurrency market in 2018 was predicted, but developments began to develop one after another and faster than expected. A few days before the news that the NYSE is developing a Bitcoin exchange, Goldman Sachs announced its plans to open a Bitcoin trading operation.. Nasdaq, on the other hand, recently stated that it will consider becoming a crypto exchange in time.
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