As reported by the New York Times late Monday, May 7, the New York Stock Exchange (NYSE) owner is contemplating letting clients buy and hold Bitcoin. The reported move will make NYSE the second Wall Street giant in a week to welcome cryptocurrency.
As the New York Times reports, referring to “documents and emails” as well as four unknown sources, Intercontinental Exchange (ICE), NYSE owner is proposing to offer traders contracts that ultimately result in clients owning the digital currency.
The report comes just days after the media company cited a Goldman Sachs executive, who seemed to confirm the bank would launch Bitcoin futures “in weeks.”
The Times wrote late Monday that ICE “has held discussions with other financial institutions about setting up a new operation by which banks can purchase a contract, called a swap, that will end with the client owning Bitcoin the following day — with the support and security of the exchange,”
Should the move emerge successfully, ICE and Goldman would join a rapidly increasing large chunk of conventional financial institutions engaging with digital currencies. Other latest institutions now include NASDAQ, which stated it would be “open” to developing a cryptocurrency trading platform in future.
The stands further sharply oppose contradicting industry views currently hitting the headlines, such as remarks from Warren Buffett, the CEO of Berkshire Hathaway, who likened Bitcoin to “rat poison” this week.
Meanwhile, Bill Gates chose a more unusual halfway position, telling CNBC on Monday that although trading Bitcoin was a “greater fool” project, he would still “short it if there was an easy way to go about it”.