July 6, 2022
  • July 6, 2022

Biggest Wall Street Players Step Up Trading In Cryptocurrency Markets

By on September 17, 2021 0

Jump Trading, Jane Street and GTS are the biggest companies on Wall Street to unveil their plans to step up cryptocurrency trading – after years of speculation about their secret businesses in the highly speculative and volatile digital marketplace.

Trading companies are now planning to take over crypto territory. And win business from investors. Judging by their wallet, they might be successful.

These competitive and aggressive Wall Street trading companies often compete for trading in global futures, currencies and equities. So, there is a good chance that they are also fighting for transactions in the cryptocurrency market. And earn massive sales.

They want a piece of the crypto pie as a way to bridge the gap between digital markets and asset managers keen to trade the rapidly growing crypto industry.

High frequency traders take control of the market

According to Mina Nguyen, Head of Institutional Strategy at Jane Street, they started trading cryptocurrencies at the end of 2017. With the experience gained over the years, they now trade crypto assets around the world on a daily basis.

She adds that Jane Street is poised to support more cryptocurrency markets as institutional interest in digital assets grows exponentially.

These large Wall Street trading firms have been at the forefront – over the past two decades – to spark waves of change now sweeping through the world’s largest US-based stock markets.

These high frequency traders use the latest technology and regulatory changes to increase the efficiency of digital markets, earning them lucrative margins and commissions. And earn billions of dollars through price differences for the same cryptocurrency assets but in different locations.

They now want to bring this knowledge to the crypto markets and guide their growth as more and more institutional investors continue to ogle the high returns on offer.

The best companies operating under the radar

These high-frequency companies first joined the crypto market in 2017, when Bitcoin prices hit new highs.

However, several of the top companies have remained under the radar – keeping their cryptocurrency transactions silent as they amassed large market share.

According to JPMorgan, major Wall Street companies were responsible for nearly 80% of Bitcoin prices sent to crypto exchanges.

Right now, many high-frequency companies want to trade – on behalf of institutional investors – but outside the realm of cryptocurrency exchanges. And serve as a channel for exchanging crypto transactions that often don’t match in one place.

This gives them an edge to compete with more experienced crypto trading companies such as Bequant, B2C2, Genesis, and other exchanges. In short, trading companies are taking control of the space and stepping up crypto.