Square gets green light for Crypto Trading and is institutional money good for Crypto?

Today payment company Square got the green light to open up Crypto trading on its app. This could bring in lots of institutional money into crypto, what some call the “missing piece”. This is different from CME and CBOE opening last December because those places only sold futures contracts and not actual cryptocurrency. Futures contracts do very little to stimulate the cryptocurrency market because they usually settle in cash which means regardless of how many contracts you buy or sell, not one penny actually goes into cryptocurrency. It is more grounds of manipulating cryptocurrency price instead of actually buying cryptocurrency. For instance, you can be bullish on Cryptocurrency’s long-term but short sell futures contracts. Then you have a win-win if you tank the price of crypto because you can then pay back your short-sell at a lower price and then buy in real crypto at the lower price. If the contracts were settled in crypto, you’d be hurting your own coin’s price.
I do think crypto would benefit from institutional money but only if they buy actual crypto and not futures. I really think that Crypto futures market have been manipulating and actually hurting crypto prices in the last half year or so.

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