How Wall Street Is About To Raid Crypto

I’ve been watching crypto since 2011 when I was a stock broker in NYC. At that time I was working on high frequency trading algorithms in equities. About the same time, crypto comes along. It made sense to me. A currency that could no be debased. A digital gold standard. Back then, even for the crypto enthusiasts, getting in was flippin’ difficult. Your computer science degree needed a computer science degree just to figure out how to get a wallet in 2011/12. There was nothing intuitive about buying crypto. Over time, many of the old school crypto traders succumbed to one of many rug-pulls, from the now forgotten Mt. Gox in 2014 to FTX in 2022 and the hundreds of little scammers in between, it all seemed dubious — right up to last year. However, we are about to see something change in crypto. Wall Street is about to start buying Bitcoin. It will be a blessing and a curse. <h1>What Just Happened?</h1> In case you missed it, earlier this week there was a <a href="https://www.forbes.com/sites/digital-assets/2023/08/29/grayscale-wins-court-battle-against-sec-regulator-must-review-bitcoin-etf-application/" rel="noopener ugc nofollow" target="_blank">big court decision</a> won by an investment management company called Grayscale. They applied to the SEC to create an ETF that invests in crypto, and the court findings mandate that the SEC must review the ETF application. The price of Bitcoin jumped 6% when this news broke. Grayscale aren’t the only ones about to create Bitcoin ETFs. BlackRock, Invesco and Fidelity <a href="https://www.washingtonpost.com/business/2023/08/29/what-s-happening-with-spot-bitcoin-etfs-from-grayscale-blackrock/10109a9a-46c4-11ee-b76b-0b6e5e92090d_story.html" rel="noopener ugc nofollow" target="_blank">also want to sell ETFs</a> that are tied to the spot price of Bitcoin. <a href="https://wire.insiderfinance.io/how-wall-street-is-about-to-raid-crypto-34cc0840fc7c">Read More</a>