Institutional Money is Closing In on Crypto Markets
Yesterday I wrote about Bakkt and the moves it’s making to get its platform up and running.
Institutions are getting closer and closer to getting their platforms live, and with it the flood of Wall Street money.
Let’s see what else is going on among the institutions.
E*Trade Financial Corp. announced recently announced that it will soon let customers trade cryptocurrencies on its platform.
It plans on starting with bitcoin (BTC) and Ethereum (ETH), and possibly adding other cryptocurrencies later.
E*Trade has over 3.7 million brokerage accounts on its platform.
TDAmeritrade is also getting in on the game. The rumor is it will partner with institutional crypto exchange ErisX to facilitate offering digital asset buying and selling on its platform.
That’s another 11 million customers who will soon have access to crypto.
Fidelity, and it’s Fidelity Digital Assets Services, did a soft launch in March.
A few select hedge fund managers, family offices, and some other Fidelity clients can now access its bitcoin custody services.
Fidelity has nearly 28 million brokerage accounts.
A full rollout should happen this year.
The institutions are getting closer to crypto!
or Abra
and trade cryptos on Binance and Bibox...
And delegate SP with MinnowBooster
i wonder if it will take the market up again
Just a small percentage of these accounts would make a massive difference to the total market. Can you imagine a few 100 billion pouring in overnight.
Decentralized, uncontrolled peer to peer payments no middle man shaving profits is the salvation from the federal reserve alternative and involvement.
Crypto should not be centralized nor controlled by govt.
This post has received a 6.12 % upvote from @boomerang.