{"id":137307,"date":"2024-09-16T18:00:40","date_gmt":"2024-09-16T15:00:40","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137307"},"modified":"2024-09-16T11:14:13","modified_gmt":"2024-09-16T08:14:13","slug":"wall-street-expands-into-crypto-despite-high-costs-and-regulatory-hurdles","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/wall-street-expands-into-crypto-despite-high-costs-and-regulatory-hurdles\/","title":{"rendered":"Wall Street Expands Into Crypto Despite High Costs and Regulatory Hurdles"},"content":{"rendered":"<p>A Bloomberg <strong><a href=\"https:\/\/www.bnnbloomberg.ca\/business\/company-news\/2024\/09\/14\/guarding-crypto-is-a-lucrative-business-and-wall-street-wants-in\/\">report<\/a><\/strong> highlights that managing crypto assets is significantly more complex and costly than traditional ones, with crypto custody costing up to ten times more due to heightened security demands.<\/p>\n<p>Exchanges such as Bybit, OKX, and Kraken continue to lead in trading volume, while Coinbase and BitGo dominate the growing custody market, currently valued at $300 million and expanding at 30% annually.<\/p>\n<p>Traditional financial giants like BNY Mellon and State Street are looking to enter the crypto custody space, though regulatory challenges, like the SEC\u2019s SAB 121 rule, pose hurdles.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/coinbase-ceo-addresses-concerns-over-bitcoin-etf-management\/\" title=\"Coinbase CEO Addresses Concerns Over Bitcoin ETF Management\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/10-18-coi-brian-armstrong-scaled-e1679659287610-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Coinbase CEO Addresses Concerns Over Bitcoin ETF Management<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Despite this, firms such as JPMorgan Chase are capitalizing on the market&#8217;s potential. Crypto also offers diversification opportunities, with <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin\u2019s price<\/a><\/strong> movements showing little correlation to traditional markets, maintaining its appeal as an independent asset.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street firms are expected to keep expanding into crypto, despite growing competition and minimal correlation between Bitcoin and traditional indices like the S&#038;P 500 and Nasdaq.<\/p>\n","protected":false},"author":3,"featured_media":30082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-137307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - 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