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Institutional Adoption: New York Stock Exchange to Let Customers Buy Bitcoin

The Owner of the NYSE is reportedly contemplating letting customers buy and hold Bitcoin. This would be the second Wall Street giant to open up to cryptocurrency this week.

 

The New York Times reports NYSE owner, Intercontinental Exchange (ICE) is planning to offer traders contracts that will eventually result in customers owning the cryptocurrency.

 

This comes days after a Goldman Sachs seemingly confirmed that the bank would roll out Bitcoin futures within weeks.

 

Should they move ahead, ICE and Goldman will be joining an increasingly large group of financial institutions that are hurriedly engaging with cryptocurrency.

 

Although there are many financial institutions that are hopping on the bandwagon, not all are agreeable to crypto. Warren Buffett has reiterated his position on cryptocurrency, likening it to rat poison.

 

Further, Bill Gates also felt it necessary to reiterate his position on cryptocurrency, stating that it’s a “greater fool activity” and that he would “short it if there was an easy way to do it” What Gates apparently does not know is that the CBOE offers Bitcoin futures, making it very simple to short the cryptocurrency.

 

In all, this news is very promising. Of course institutional adoption is not going to be a smooth process, and there will likely always be some holdouts.

The fact that there is an increasing amount of Wall Street giants that are rushing to be involved in crypto is a good sign for the future.