Exposing institutional investors to Bitcoin will open up a lot of new opportunities. Slowly but surely, it seems Wall Street is taking Bitcoin a lot more seriously. The New York Stock Exchange is embarking on a rather surprising mission in this regard. By operating its own trading platform, the NYSE makes it clear Bitcoin is here to stay. 

Wall Street and Bitcoin Will Happen

Over the past few years, the community has witnessed an evolving relationship between Wall Street and Bitcoin. While hesitant at first, it seems things are accelerating rather quickly. With various executives leaving Wall Street for Bitcoin ventures, it is evident that there’s an increasing acceptance of cryptocurrency.

Additionally, various banks show an increasing interest in Bitcoin. Goldman Sachs, among others, is contemplating the launch of a cryptocurrency trading desk. There are also rumors regarding more companies offering Bitcoin futures contracts in the future. With the ongoing regulatory attempts by the CFTC and SEC, a lot of positive changes can occur in this regard.

Perhaps the biggest development is related to the New York Stock Exchange. This financial platform has indicated it will launch a trading platform for Bitcoin. This seems to confirm the financial sector acknowledges how Bitcoin has matured over the years. The network has been strengthened and will continue to undergo changes. Moreover, investor interest is significantly on the rise.

What is the NYSE Planning?

While the announcement by the NYSE surprised a lot of people, details remain vague. It will not necessarily operate like a more traditional cryptocurrency trading platform. Instead, Bitcoin will be traded as a commodity. This will be done on the same level as gold and perhaps even stocks. Whether or not there will be interoperability between these assets remains to be determined.

For consumers and investors, this will be an interesting development. Being able to invest in more assets can only be considered to be a good thing. Bitcoin has an accompanying proof of ownership, which is often overlooked. Additionally, its fixed and limited supply will make it seem rather appealing to speculators all around the world.

The bigger question is what effect this will have in the long run. Legitimizing cryptocurrencies will not happen overnight. Nor will they become commonplace in the near future either. Even so, the NYSE is confident now is the time to venture into the cryptocurrency world. When their platform will come to market has yet to be determined.

Do you think the NYSE starting a Bitcoin trading platform to be a major turning point in cryptocurrency acceptance? Let us know in the comments below.

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