Wall Street Bank Cowen To Offer Spot Bitcoin Trading
The firm leveraged its small footprint to fast-track its way into offering spot instead of futures trading of bitcoin and cryptocurrency.Boutique investment bank Cowen Inc. will reportedly offer its institutional clients spot bitcoin trading through a new business unit.“This will be a meaningful division,” its co-president said.Standard Custody & Trust Co. will act as the bank’s cryptocurrency custodian.Wall Street investment bank Cowen Inc. has debuted a new digital asset unit to offer spot bitcoin and cryptocurrency trading to institutional investors, Bloomberg reported Wednesday.The....
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The 103-year-old bank wants to hold crypto for asset managers and hedge funds as Wall Street begins offering cryptocurrency products to institutional clients. Cowen Inc., an independent American investment bank established over a century ago, is set to become the latest mainstream financial services company to enter the crypto custody business.According to Bloomberg, Cowen has inked a partnership with Standard Custody and Trust Company. The collaboration will also include a $25 million investment in Standard’s parent company, PolySign Inc., which has Ripple chief technology officer David....
Wall Street trading firms are a cautious lot, but they can't keep their eyes off of bitcoin. Big trading and investment houses don't want to miss out on possible profit opportunities as bitcoin continues to grow. More of the big proprietary trading firms are dipping their feet into bitcoin, thanks to the profit opportunity it can offer and its ability to streamline transactions, according to an article in The Wall Street Journal. The growing interest of Wall Street trading and investment firms serves to raise Bitcoin's profile in the investment community and the economy at large. "Their....
Cowen initially announced plans to move into the crypto custody business in May 2021, entering a partnership with Standard Custody and Trust Company. Cowen, a major American independent investment bank, has officially launched a dedicated cryptocurrency and digital asset division.Called Cowen Digital, Cowen’s new business is designed to offer full-service trade execution and custody for cryptocurrencies like Bitcoin (BTC) and other digital assets for institutional investors, the firm announced on Wednesday.In order to launch the new crypto division, Cowen has collaborated with PolySign’s....
The previous big launches of Bitcoin-related products on Wall Street were followed by multi-month price slumps. Wall Street opened its doors for the first Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 19, with the listing of ProShares Bitcoin Strategy (BITO) on the New York Stock Exchange. The fund attracted more than $1 billion in trading volume on its first day, while BTC price rallied to a new record high of $67,000.But the spot gains did not stay for too long with BTC paring some gains going into the weekend.Bitcoin price corrected by almost 11% from its all-time high to reach....
A few weeks ago, I opined on why Republicans should love bitcoin. Thankfully, though, the GOP aren't the only ones invited to the party. That's the nature of bitcoin: it has something to offer to everyone. To illustrate, each section of this article begins with a quote taken directly from the Democratic National Platform, followed by a discussion of how bitcoin can address the issue in question. Wall Street. For too long, we've had a financial system that stacked the deck against ordinary Americans. Banks on Wall Street played by different rules than businesses on Main Street and community....