Institutional Investors and Wall Street Show Confidence in Crypto's Future

Ritholtz Wealth Management's Josh Brown believes that the cryptocurrency market has entered a "new phase" as institutional investors are showing interest in the space. EDX Markets, a digital asset marketplace backed by Charles Schwab, Fidelity, and Citadel Securities, launched trading in select assets on Tuesday, targeting institutional traders. Additionally, there are rumors that Fidelity is "readying something seismic." BlackRock also filed an application for what would be the first spot Bitcoin ETF in the U.S. These developments show that institutional investors are looking to get into the crypto space, and Brown notes that he owns positions in both Bitcoin and Ethereum.