The crypto space is hot property at the moment even in the wake of recent market slumps. More institutionalized finance exchanges and organizations are looking to provide a wider range of products for their clients and these must now include Bitcoin futures. The latest to join the blockchain train is Morgan Stanley. As the first […]
The crypto space is hot property at the moment even in the wake of recent market slumps. More institutionalized finance exchanges and organizations are looking to provide a wider range of products for their clients and these must now include Bitcoin futures. The latest to join the blockchain train is Morgan Stanley.
As the first Bitcoin futures contracts expired and were settled this week, the CBoE hailed them a success and a victory for those bearish on Bitcoin. Morgan Stanley has joined its rivals Goldman Sachs and will begin clearing Bitcoin contracts for its clients according to Business Insider.
Bitcoin Bandwagon
The bank’s chief financial officer, Jonathan Pruzan, said the firm has been clearing Bitcoin futures trades made on CBoE and CME Group. He told Bloomberg in a recent interview:
If someone wants to do a trade on the futures and settle in cash, we’ll do that. I wouldn’t say it’s been a lot of activity, but it’s for core institutional clients who want to participate in a derivatives transaction.
Due to its nerve-wracking volatility, many of Wall Street’s major banks have been holding off clearing crypto contracts …
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