2024-07-19 09:24:33 ET
Summary
- Virtu Financial reported overperformance despite a decline in volatility and volumes industry-wide.
- The company is preparing to make markets for Ethereum products, with the potential for significant growth in net trading income and operating leverage effects.
- Valuation reflects market reticence over the crypto exposure, since without it the VIRT stock's valuation is still a bit discounted.
- Nonetheless, Virtu can still benefit from a windfall from these markets, even for doubtful investors. However, sharing those doubts around crypto, we'll stay away.
Virtu Financial Overview
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Virtu Financial: Overperformance With Clear Ethereum Catalyst