NEW YORK (AP) — Whether you love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by the day.
Cryptocurrencies have surged to nearly $2.5 trillion in total value, slightly more than the world’s most valuable company, with more than 200 million users.
At that size, it’s simply too big for the financial establishment to ignore.
Firms that cater to the world’s wealthiest families are increasingly putting some of their fortunes into crypto.
Hedge funds are trading Bitcoin, which has big-name banks starting to offer them services around it.
And in the latest milestone for the industry, an easy-to-trade fund tied to Bitcoin began trading on Tuesday.