Content adapted from this Zerohedge.com article : Source
The big banks are coming to cryptocurrency.
This week we got the announcement that Goldman Sachs is buying Circle for $400M. JPMorgan, one of the biggest critics of bitcoin, has been buying bitcoin-backed ETNs, claiming it is for their clients.
Now we get this from Bloomberg:
As Bloomberg reports, Boston-based Wellington Management Co. - a massive fund company with $1 trillion AUM - is considering adding cryptocurrencies to some of its portfolios, according to a February report from one of its equity analysts.
The company has already upgraded the system to handle bitcoin deriviatives from both the CBOE and CME. This is in addition to investing in select chipmakers who cater to the miners.
Wellington's trial balloon comes at an interesting time: Late last night, the Wall Street Journal reported that the SEC has issued subpoenas and information requests to certain high-profile ICOs, including a Overstock.com's planned tZero offering.
