Company wall street are interested in cryptocurrencies as ever

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The hype around wall street and cryptocurrency continues to grow in the heart of the cryptocurrency community. The interest of wall street to digital currencies is a key stage in the development of the industry.

Although on the cryptocurrency markets saw a decline of 80% in 2018, company wall street special interest in bitcoin and other products, such as cryptocurrency storage and asset management.

A recent study by analysts Sanford C. Bernstein & Co. it was found that high performance on cryptocurrency exchanges combined with a bearish market in 2018 led to the growth of demand for bitcoin and cryptoprocta from an ever-growing number of companies to wall street.

“With the development of crypto assets and strengthening institutional demand there are many opportunities for traditional companies,” say analysts at Bloomberg.

Coming to wall street in the stock market?

Due to the growing demand for exchanges such as Coinbase, Binance and Robinhood, with the launch of several new products such as Coinbase Custody, analysts believe that it is rather a matter of time.

The increase in demand will capture and company the wall street, and they simply won’t be able to delve into the cryptocurrency process, whether the establishment of stock exchanges, the launch of products to store and manage assets.

Wall street VS Bitcoin ETF

Most investors believe that bitcoin ETF is that you need to change the bearish market position. Bitcoin ETF must, of course, involve new money into the cryptocurrency markets, but, most importantly, is institutional investment. Many believe that the resolution of the SEC currently may be the key to revival of the market.

However, the SEC refused to implement the long-awaited bitcoin ETF. Many investors took this as a negative sign.

But as bitcoin ETF for wall street?

Wall street represents some of the largest companies in the world. With the rich customers around the world. The adoption by firms of such level will not only attract huge amount of investment, but also will bring us closer to mass adoption of cryptocurrency. This is the most important task for the industry at the moment.

If we were closer to mass adoption, we could see that prices are rising faster than run another products.

What is important is whether the banks?

In the first days of the existence of crypto-currencies was discussed that bitcoin and other coins will attempt to replace the banking sector. It is not realistic, given the power and influence of some major banks of the world.

Most likely we’ll see some kind of coalition. It is no secret that a number of banks worldwide actively offer accounts to cryptocurrency trading and access tokens for their customers.

Already, some of the largest banks in the world have started to reveal their current initiatives for customer service, interested in crypto-currencies as the asset class.

In June, the newly appointed CEO and Chairman of Goldman Sachs, David Solomon, said they are exploring the possibility of based on currencies derivatives.

Banks are the largest user bases. If the big institutions will start to offer the cryptocurrency movement in trade, then it will be a huge source of confidence for digital currencies. This will likely lead to higher prices. However, despite the fact that this year a number of banks had already announced such features, the market is still in a precarious position. Only time will tell which industry will have the greatest impact.

Author: Olga Novikova, analyst Freedman Club Crypto News

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