[2018-03-18] ‘Secretive’ Wall Street Firm Includes Bitcoin In Its Traded Assets

[FollowSynergy]

Trading firm Jane Street Capital, which reportedly trades an average of $13 bln daily in equities across the globe, has included Bitcoin (BTC) in its traded assets, Business Insider reported today, March 17.

A statement from the company reads: “Jane Street trades over 56,000 products globally across a wide variety of asset classes, including Bitcoin.”

Unnamed sources told Business Insider that Jane Street, which was founded in 2000, only entered into crypto trading last year. The company’s website reports that $5.6 trln was traded across all products in 2017.

In February 2016, the company was described by the New York Times as a “secretive” ETF firm. While the profit numbers for Jane Street’s Bitcoin trading are not public, the company has noted that it will stay open to further involvement in the crypto markets:

"Jane Street has always taken a considered approach to trading opportunities and will continue to do so. As more cryptocurrency products emerge, we expect to be involved."

Other Wall Street investors have also already jumped onto the crypto bandwagon. Major American investor Bill Miller told reporters in December 2017 that he had invested a whopping half of his hedge fund’s money in Bitcoin.

https://cointelegraph.com/news/secretive-wall-street-firm-includes-bitcoin-in-its-traded-assets

[jjacob]

A mainstream firm probably would not have a very high exposure to Bitcoin, unless it is a crypto-themed hedge fund. In this case, while Jane Street Capital mentions that BTC is included in the assets it trades, it hasn't mentioned the volume or percentage. If a company allocates a few hundred dollars to crypto assets, it would hardly make a difference.

[Harlot]

I wouldn't be surprised if other firms bigger than Jane Street are trading cryptocurrencies through their operations. With financial company's who uses their names in order to influence markets to their own advantage I suspect some big names are already involve in the crypto market. Company's like JP Morgan, Goldman Sachs, Berkshire Hathaway who are very vocal about the "negative" things revolving around cryptocurrencies is I think their way to create FUD in the market in order for them to buy Bitcoin at a cheaper price.

[Xavofat]

I suppose your average wealthy and/or informed trader isn't all that interested in Bitcoin unless they either get an opportunity to manipulate the market or they decide to screw around with some of their disposable income.

What would cause the price to rise dramatically is when it's particularly easy to own Bitcoin as part of a retirement fund, because people who don't even know very much about it would own just a little bit out of curiosity since it's the new technology thing.

[Gotottack]

So you see, little by little we see the master plan unfold. In here we can deduce they are behind the price fluctuations after all. If we carefully study, we can see how big whales are able to take control of the financial market. It is high time to accept that it happens! There sure are some badges of politics in every possible way, and the cryptocurrency dimension is no exception. We cannot continuously turn a blind eye on this, and sadly, there is nothing much we can do about this. One way or the other, we benefit from it if they get a huge share and the prices correspondingly accelerates. So let us just take that perspective, and reap benefits from it. And if the other way happens, HODLING is key.