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Author Topic: [2017-10-23] DRW and Other Firms Embrace High-Frequency Bitcoin Trading  (Read 1110 times)
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October 23, 2017, 10:10:28 PM

DRW and Other Firms Embrace High-Frequency Bitcoin Trading

A large Chicago-based proprietary stock trading firm, DRW, has embraced bitcoin trading over stock trading. DRW has pivoted in accordance with shifting trends in the economy and in the fintech sector. Traditional stocks do not move like cryptocurrencies, and the higher volatility of bitcoin markets means larger gains. Other companies have also dove into the gold rush of bitcoin tradinTide

A Financial Times article expanded on DRW’s Foray into the crypto space: “DRW of Chicago, one of the world’s largest proprietary trading companies, has led the charge. About a dozen of its more than 800 employees buy and sell bitcoin at a subsidiary named Cumberland Mining, which was established in 2014.”

Multiple Firms Follow the Tide

DRW has not been the only company to lunge into the digital currency ecosystem. Several major firms are interesting in capitalizing on the growing bitcoin markets. Names include Jump Trading, DV Trading and Hehmeyer Trading + Investments, according to the Financial Times article. The Chief Executive of DV Trading commented on their interest in the space:

" volatility in asset classes is at all-time historic lows — everywhere except for cryptocurrencies. So there’s obviously a lot of interest in this space."

The Financial Times article mentioned even though the stock markets are trading at an all time high, they only record a few daily moves of 1%, whereas the crypto markets were up 6% on Friday.

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