DTCC, via its subsidiary Cede and Co, has legal ownership of nearly all securities in the US. That's correct, you actually do not have legal ownership to the stocks in your portfolio. They own it and ultimately control it. 

DTCC gives bitcoin no collateral value because they cannot merge BTC into the legal framework that would allow them to take ownership.   

This may be bad for number go up in the short run, but much better for bitcoin in the long run.