Home / Bitcoin / More than 4 reasons to be bullish

More than 4 reasons to be bullish

  bitcoin "title =" bitcoin "/> </figure>
<p><span style= They say that the institutional interest for cryptography is slowed down, and with the way things are going, the situation seems very different. Other, giants such as ICE, Nasdaq, Merrill Lynch, Morgan Stanley, Citigroup and many others continue to enter the crypto-market, which means that a lot of money will come on the market.

Bakkt of the parent company of Nasdaq ICE [19659004] The biggest news of the year was the parent company of Nasdaq, ICE, which announced the launch of Bakkt to be aired at the beginning of November, this year with Bitcoin as an underlying asset , contracts will be issued without any margin.

According to experts, it is also a bigger news than the Bitcoin ETF Bitcoin Bull, Brian Kelly insisted: "Include because this is the biggest news #bitcoin # 39.There are many things planned for this platform which could also involve the custody solution and then branch off into customer and merchant applications. This could also create a path for the approval of Bitcoin ETFs.

Morgan Stanley is the last to jump on the Bitcoin train

Although it is still to be confirmed by the institution, Morgan Stanley is planning to offer complex derivative trading that will be linked to Bitcoin. Investors will be provided with a synthetic exposure to Bitcoin price movements. This also means that investors will be able to go long or short on the main crypt.

Morgan Stanley will charge a spread for each transaction. Having already prepared the bitcoin exchange offer, this service will apparently be launched once the institutional demand that will result in an internal approval process is demonstrated.

In addition, read: Gold Mining Use much more energy than Bitcoin Mining – Long Hash Analysis

Merrill Lynch does not want to be left out

According to what reportedly, Merrill Lynch, a division of Bank of America is also set to develop a Bitcoin product. With the Wall Street giants taking the Bitcoin route, Merrill Lynch does not want to be the only one who does not get a taste of this market.

Citigroup will offer a DAR (digital asset receipt) product [19659007] After Northern Trust, Citigroup switched to cryptor custody solutions. The New York bank will launch a Digital Asset Receipt (DAR) product, through which institutional investors will be able to invest in criptos in a regulated and insured manner.

"The bank will notify the Depository Trust & Clearing Corp, a Middleman of Wall Street that provides clearing and settlement services once the receipt has been issued",

has been reported.

Similar to ETFs, investors will not actually own the cryptocurrency as it will rather be represented by DAR.

Goldman Sachs plunges deeper

Goldman Sachs is very much on the encrypted road and is further planning to offer encryption solutions. Although it is not yet clear when the product will be published, the plans could also switch to services such as prime broker services.

In addition, Fidelity, Nasdaq and JP Morgan are also jumping into the Bitcoin melee. With these big names on Wall Street that drive the wave of Bitcoin, as put by Alistair Milne "Institutional money has taken the hedge fund industry from ~ $ 300 billion to ~ $ 6 billion," the market of Bitcoins can also be expected in the stars.

Summary [19659022] Bitcoin which aims at trillion dollars on the market: more than 4 reasons to be bullish "/>

Article

Bitcoin which aims at trillions of dollars on the market: more than 4 reasons to be bullish

Description

They say that the institutional interest of the crypts has slowed down.With the way things are going, the situation seems very different.One after the other, giants like ICE, Nasdaq, Merrill Lynch, Morgan Stanley, Citigroup and many others continue to enter the encrypted market, which means large amounts of money will also come in the market.

Author

ANJALI TYAGI

Name publisher

COINGAPE

Logo publisher

Source link