Major Finance Giants Enter Crypto: Can Bitcoin Reach $1 Million?

• Traditional finance giants like Citadel, Fidelity, and Charles Schwab have entered the cryptocurrency market.
• EDX Markets has launched trading in Bitcoin, Ether, Litecoin, and Bitcoin Cash.
• BlackRock recently applied to launch the first spot Bitcoin exchange-traded fund in the US.

Finance Giants Enter Crypto Space

Major players from the traditional finance sector – including Citadel, Fidelity, and Charles Schwab – have officially entered the cryptocurrency market with a crypto exchange called EDX Markets launching trading in four popular crypto assets: Bitcoin , Ether, Litecoin, and Bitcoin Cash . The move demonstrates sustained long-term institutional interest in cryptocurrencies despite regulatory challenges and previous setbacks in the industry.

BlackRock’s Entry into Cryptocurrency Market

BlackRock has also recently applied to launch a spot Bitcoin exchange-traded fund (ETF) in the United States. According to Vetle Lunde from K33 Research, approving a spot Bitcoin ETF would have an immense impact on the market structure of Bitcoin and make it easier for financial advisors to include it in their portfolios. BITI’s net short exposure in BTC fell to 2605 BTC yesterday. Since launch, BITI has only seen 10 out of 222 trading days ending with a lower short exposure, making this its lowest exposure since August 16th 2022.

Can BTC Reach $1 Million?

The participation of established institutions raises an interesting question: can Bitcoin reach unprecedented heights? Some speculate that it could hit $1 million dollars given its current rally of nearly 20% over this week alone – holding steady at around $30k in its trading range. Despite these potential gains however, there are still many factors that must be considered before confidently predicting such an extreme result for BTC’s price trajectory.

Regulatory Challenges Ahead

Crypto enthusiasts may face regulatory challenges as major financial institutions enter this space due to their complex compliance requirements which may put pressure on smaller firms or exchanges not able to meet these standards yet. Additionally high volatility is likely continue for some time as cryptos are still considered riskier investments than traditional assets such as stocks or bonds.


With established giants now entering the cryptocurrency market there is no doubt that new possibilities will arise that could influence prices over time – although predicting how much it can reach is still uncertain given all the factors at play here including regulatory issues and high volatility rates among others .