This Wall Street Backed Crypto Exchange Could Rival Bakkt 10

This Wall Street Backed Crypto Exchange Could Rival Bakkt

The Bakkt firm that is scheduled for launched on Wall Street in November, has been regarded as a game changer in the crypto-verse. Bakkt stands the chance of being the catalyst that will bring in the highly anticipated Institutional Investors by offering them a secure avenue to invest in Bitcoin (BTC) and other major cryptocurrencies. Bakkt aims at using existing regulatory rules rather than changing them as the Bitcoin ETF has been attempting to do.

More Is Better

News reaching Ethereum World News indicate that Bakkt is not the only Wall Street firm planning on bringing Bitcoin (BTC) and digital asset investing to the mainstream. According to reliable sources, another group of Wall Street giants are getting behind a new cryptocurrency exchange by the name of ErisX. TD Ameritrade, a Brokerage giant, is part of the list of firms backing the exchange that will allow individuals to trade cryptocurrencies and derivatives tied to digital assets.

To Include Ethereum (ETH) Futures Contracts

Led by Thomas Chippas, a former Head of Quantitative Execution at Citigroup, ErisX has been a work in progress and plans on offering a wide range of physically delivered futures contracts for Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

Mr. Chippas had this to say about the new firm that expects to start spot trading in Q2 of 2019.

In our opinion there is no lack of interest in building out markets for people wishing to trade digital assets and there is plenty of space for people to come in with a regulated exchange and clearing house.

Summing it up, ErisX joins Bakkt in providing an avenue for individual and institutional investors to invest in Bitcoin, Etheruem and other cryptocurrencies. The two firms plan on using existing rules in the United States. Bakkt is scheduled to launch in November whereas ErisX will do so in the second quarter of 2019.

What are your thoughts on the entry of ErisX into the arena of providing Wall Street with a way to invest in Digital assets? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.