Wall St firm has secret desk trading Bitcoin
A major Wall Street firm has revealed that it has been secretly operating a desk trading Bitcoin for over two years.
Wall St interest in trading Bitcoin is growing rapidly.
Various investment firms are looking into the concept of setting up desks to trade cryptocurrencies.
One company, however, already took the plunge a while ago, while flying completely under the radar.
Susquehanna International Group says it has built up a desk that has a dozen people trading Bitcoin.
Bitcoin is an Appealing Currency
The volatile nature of this industry means a lot of money can be made from cryptocurrencies, making it appealing to investors.
Wall Street big shots have been waiting on the sidelines for an opportunity to jump in and dabble in digital assets.
A number of major firms are in the early stages of developing these new options for their clients.
Susquehanna International Group, on the other hand, is well ahead of the curve.
Not unlike most other Wall Street firms, SIG is best-known for trading stocks, ETFs, and options.
Its position in the cryptocurrency trading market is what makes it unique, however.
The privately-owned company started buying and selling cryptocurrency through private deals over two years ago.
The company indicates it will expanding this functionality by exposing 500 of its clients to cryptocurrency trading in the next few weeks.
The move is a sure sign of how cryptocurrencies are entering mainstream trading.
It is surely only a matter of time until other financial institutions follow suit.
Trading Bitcoin is a bold move
The decision by SIG to start trading Bitcoin was a bold move to make two years ago.
Back then, the cryptocurrency market was a very different place, and a far less attractive proposition to Wall Street than it is today.
In hindsight, the decision to start trading Bitcoin was a very smart one, putting them way ahead of their competition.
As big money scrambles to enter crypto trading, it signals a bright future ahead for Bitcoin and other cryptocurrencies.
With Wall Street firms preparing to enter the space, it won’t be long before mainstream traction follows.