[bcg1]

This should give the big Wall St banks the ability to muck with crypto prices however they choose, just like they can do with gold and silver and other commodities (for example, Goldman magically closed gold positions and sold short 2 days before historic 25% price drop in 2 trading days in 2013[0])

Hopefully people will read those contracts and understand how delivery actually works and realize that COMEX or whoever can halt delivery and settle in cash if they want to, etc.

[0] - https://www.cnbc.com/id/100630626

[vkou]

> This should give the big Wall St banks the ability to muck with crypto prices however they choose,

The current status quo is that large bitcoin holders can muck with crypto prices however they choose.

[partiallypro]

Futures exchanges will have to buy large sums of underlying assets (one reason for the recent spike.) So, in the end a lot of exchanges will be some of the largest crypto holders.