Well, the party seems to just get bigger and bigger every day on Wall Street.
After a few prominent names announcing crypto-related products or ventures last weeks, it's Morgan Stanley group's turn to announce a product for crypto trading, using price swaps. According to Investopedia: "A price swap derivative is a derivative transaction where one entity guarantees a fixed value for the total asset holdings of another entity over a specified period.".
Here's the most important part from this Business Insider announcement.
The New York financial-services firm is reportedly planning to offer bitcoin swaps, which would give investors exposure to the performance of the digital currency without having to buy it, according to the report. The product is ready to go-live, but the firm is waiting for the right amount of demand from institutional clients.
I don't dig into conspiracy theories but seeing the last 5-6 months of bear market, seeing the current price of crypto assets (80% down from the ATH in December last year) and seeing all these announcements from big Wall Street whales getting so friendly with crypto trading stuff, I can't stop myself thinking that there is a reason for everything, you know.
Just 5-6 months ago they were all so actively bashing cryptos, but now they suddenly seem to just have all their shit together for, you know, start trading crypto. If you so like.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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