According to NY Times and many other sources, Wall Street's parent company is establishing a Bitcoin Exchange platform for their clients to trade and hold. Why would they be doing this??? It doesn't take a genius to know a Wall Street ETF is in the works come 4th quarter of this year or next year. Who would know this??? Why Wall Street of course!!! Why would they setup to profit greatly, if they don't plan this to happen??? Why would Goldman Sachs plan to trade Bitcoin???
Obviously, Wall Street will do what gives Wall Street the money. Nobody will make the big money, unless Wall Street gets their cut. Usually, they are the house, and the house gets the biggest cut. They don't need no Winklevoss Twins Gemini Trading or West Coast Coinbase. They can make their own platform and have their own clienteles join their Wall Street Bitcoin and cryptocurrency platform.
They'll say when Bitcoin is ready to be on a ETF stock exchange, which is when the big bucks comes to them. They will not allow Cryptocurrency ETF, unless their exchange platform is ready first. They know they will make billions, once Bitcoin ETF hits and they want to have it all setup for them. You might as well as call their platform an open wallet to receive billions in dollars, instantly.
In my next blog, I'll speculate how much Wall Street and others may make once an ETF strikes Stock Markets.
** Disclaimer This blog is based on my opinions. I am not giving professional advice. Anything written here should be taken as an opinion and is the responsibility of the reader to take due diligence as such. Basically saying I may be wrong, right or neither, just saying its my opinions and my voice.