Which cryptocurrency was the first to be shorted on the NYSE?

3 answers

• Cosmin CadereJun 29, 2024 · a year ago
  The first cryptocurrency to be shorted on the NYSE was Bitcoin. This event took place in 2018 and marked a significant milestone for the cryptocurrency market. Shorting Bitcoin on a traditional stock exchange like the NYSE was seen as a validation of its legitimacy as an asset class. The ability to short Bitcoin provided more options for investors and added liquidity to the market. It also allowed traders to profit from price declines, which was previously not possible in the cryptocurrency space. Overall, the introduction of shorting Bitcoin on the NYSE had a positive impact on the market and further solidified Bitcoin's position as the leading cryptocurrency.
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• ParalandsMay 10, 2024 · a year ago
  Bitcoin was the first cryptocurrency to be shorted on the NYSE. This happened in 2018 and was a major development for the cryptocurrency industry. Shorting Bitcoin on a traditional stock exchange like the NYSE opened up new opportunities for investors and traders. It allowed them to bet on price declines and potentially profit from market downturns. This move also brought more institutional interest to the cryptocurrency market, as it provided a way for traditional investors to participate in the space. Since then, shorting cryptocurrencies on major exchanges has become more common, contributing to the overall growth and maturity of the market.
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• Koefoed PickettJun 17, 2023 · 2 years ago
  The first cryptocurrency to be shorted on the NYSE was Bitcoin. This happened in 2018 and was a significant moment for the cryptocurrency industry. Shorting Bitcoin on the NYSE allowed investors to take advantage of price declines and potentially profit from market downturns. This move also brought more mainstream attention to the cryptocurrency market, as it showed that cryptocurrencies were being treated as legitimate assets by traditional financial institutions. Since then, shorting cryptocurrencies on major exchanges has become more popular, providing more options for investors and contributing to the overall development of the market. At BYDFi, we believe that the ability to short cryptocurrencies on established exchanges is an important step towards the maturation of the industry.
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