Cryptocurrency trading has become too immensely popular with traders. Now, it has the attention of Wall Street. The Intercontinental Exchange (ICE) and its subsidiary, the New York Stock Exchange (NYSE), are integrating Bitcoin exchange for investors.
To make it more viable, ICE plans to swap contracts with brokers and financial institutions. This makes it easier for investors to acquire Bitcoin.
Goldman Sachs and Nasdaq interest on cryptocurrency inspired Intercontinental Exchange to do this move. Aside from that, select financial power has been requesting exchanges to give them access to cryptocurrency.
Last month, Adena Friedman, CEO of Nasdaq, raised the idea of including cryptocurrency in its list of tradable instruments. Nasdaq will do so if Bitcoin and other cryptocurrency regulations improve. Goldman Sachs followed suit. But both have not set anything in stone yet.
Despite being already in the works, the possibility of the integration could fail if ICE hesitates about regulation concerns. If ICE succeeds, the reputation of Bitcoin and other cryptocurrencies will improve.
Traditional retail stock investors can easily become attracted to the opportunity that cryptocurrency might bring to them. After all, they have been resisting it for a while due to unregulated services and markets offering this type of trading.
ICE is focusing on large investors. They are the only ones who can trade Bitcoin in NYSE as of now. The company is developing an online trading platform to make Bitcoin trading work.
Most exchanges prefer to start future markets for cryptocurrency trading. Unlike Goldman Sachs, ICE will dabble in swap contract. This decision makes trading Bitcoins feasible and regulated.
ICE has not released additional information about its plans regarding the inclusion of Bitcoin trading. Its main spokesman refused to provide more details about the development of the trading platform.
Currently, Bitcoin’s price is struggling to appreciate. But the moves done by the major exchanges are making cryptocurrency a truly tradeable currency. Experts predict that once the exchanges manage to pull off the inclusion of Bitcoin in their trading platforms, Bitcoin will become a bit more stable.
Aside from its volatility, Bitcoin has garnered a lot of bad news for the past few years, one of which was its use in drug trades and deals online. Banks often steered away from the currency. Some of them even closed the accounts of their clients that they found trading Bitcoin.
But things are going to change in the next few months, so Bitcoin owners should start checking their portfolios.