It really is going to be interesting to see what happens going forward. My first thought is this opens the door for manipulation. We know Wall Street manipulated the gold market (they were caught doing that) and many believe they keep the price of silver down through their manipulation.

The one thing this does add is legitimacy. No longer is bitcoin the total Wild West. There is still a chance that happens but to a lesser degree. At some point, do not be surprised if the major exchanges start to trade the currency itself.

As for the price difference, major arbitrage there which Wall Street will take advantage of.