Wall Street investment firms interested in bitcoin

Bitcoin has caught the attention of leading Wall Street investment firms who are entering the cryptocurrency space due to the profit opportunity it provides and its ability to streamline transactions, according to an article in The Wall Street Journal.

DRW Holdings LLC, a trading firm based out of Chicago, is a founder member of Digital Asset Holdings that started in March, Cumberland Mining & Materials LLC, a DRW subsidiary, is now experimenting with trading of digital currencies. Moreover, Citadel Securities LLC in Chicago and KCG Holdings Inc. in Jersey City, N.J. were among the companies that offered to buy Bitcoin Investment Trust's (BIT) shares which listed last month on OTC Markets.

Bitcoin has started capturing markets and is accepted by nearly 100,000 merchants worldwide. Also in recent months, investment in bitcoin and cryptocurrency related businesses have increased, suggesting rising interest by venture capital investors.