I agree with this, bitcoin derivative are not going to necessarily bring more money to bitcoin, it will bring money to the pockets of wall street that want to bet on bitcoin without getting any, a banning of this sorts force people to own bitcoin directly.
It's not just Wall Street. If you have a minimum $9,000 in capital, you can access the CBOE futures markets through typical broker-dealers. TD Ameritrade (standard pleb broker) allows access to Bitcoin futures markets starting this week, for instance. That allows mainstream/middle class investors exposure through mediums that are more familiar to them.
And ETFs will be even better. That'll give people easy access to Bitcoin exposure that they can roll into their retirement accounts (401ks, etc).
But I think its kind of like the futures that were recently introduced, didn't really have a huge effect on the price right? Just seemed to make crypto more legitimate.
It makes cryptocurrency more legitimate, but in time, I think these markets will have more effect on price discovery. It all depends on where the volume goes.
If Wall Street tried to suppress the regulated markets, Main Street could still run them over. That's what happened after the CBOE launch.
