Brace For Impact: Wall Street Is Headed Straight For Bitcoin, Says Analyst

Wall Street has previously not been at the forefront of bitcoin trading in the past. However, that looks poised to change. The approvals of three bitcoin ETFs in the past week have brought about more institutional interest in the digital asset and Wall Street brokers are starting to turn their attention to the cryptocurrency. The first Bitcoin ETF recorded trading volumes of over $1 billion on its first day. This success has not missed the radar of Wall Street. Analyst Christopher Brendler sat down with Coindesk to talk about the future of bitcoin in Wall Street. According to Brendler, Wall Street brokers are getting increasingly positive about BTC investments. It is important to note that bitcoin has outperformed both the Nasdaq and the S&P year-over-year, as seen in a report from Wealthier Today. Interested In Bitcoin And Mining Brendler had previously collated data on how the bitcoin mining industry was being viewed by players in Wall Street. He found that brokers had a positive view of the industry in the short term. Brendler estimated that about 15% of Wall Street brokers from the payments side of things were beginning to take investments in the cryptocurrency more seriously. This number at been at a meager 5% of Wall Street brokers at the beginning of the year. Related Reading | American Singer Mariah Carey Offers Free $20 In Bitcoin To Promote Adoption Interest has mostly grown due to the growth of bitcoin in t...