The second largest bank in the United States, Bank of America (BoA), reportedly allows its clients to trade Bitcoin futures.
In fact, this was revealed by two sources with knowledge of the case, on condition of anonymity, which assured that the bank of Wall Street it’s changing his conception of Bitcoin. And it begins to open up more trading mechanisms to provide greater customer exposure to digital currency, within the established regulatory limits.
For its part, BoA, has always remained belligerent with cryptocurrencies. But, it just allowed Bitcoin futures trading for some clients. Mainly, many investors are setting up their Bitcoin futures trading account.
Bank of America customers will be able to trade Bitcoin futures
Specifically, one of the largest banks in the United States, Bank of America (BoA), took a big step into the world of cryptocurrencies, after approving Bitcoin (BTC) futures trading on its platform.
To recall, the bank recently created a team dedicated exclusively to researching cryptocurrencies.
«We are uniquely positioned to provide thought leadership due to our robust industry research analysis, the market-leading global payments platform, and our Blockchain expertise».
In short, through the Bloomberg statement, Candace Browning, head of global research at Bank of America expressed:
«Cryptocurrencies constitute one of the emerging technology ecosystems other rapid growth».
For this purpose, Bank of America will allow some of its clients to access Bitcoin trading. It is also possible that some of the clients are already taking advantage of the new financial instrument. While others are preparing to invest.
Other banks join
Like BoA, other financial institutions have begun to move on the path to Bitcoin. Such is the case of Morgan Stanley, which became the first traditional bank in the United States to offer the purchase of Bitcoin to its customers, through three mutual funds.
We also have Goldman Sachs, who entered the Bitcoin futures trading game by partnering with cryptocurrency investment and financial services company Galaxy Digital. And so, provide liquidity to your customers.
Futures will be acquired at CME
Also, spokespersons reported that Bank of America will acquire futures on the Chicago Mercantile Exchange (CME). One of the world’s leading derivatives exchanges and institutional provider of Bitcoin futures contracts.
As a curious fact, it is worth mentioning, that so far, the information about the adoption of Bitcoin by the bank, has not been confirmed by the authorities. That is, Bank of America has neither confirmed nor denied the version.
What do you think of Bank of America allowing Bitcoin futures trading? Let it know in the comment box.
I retire with this phrase of Henry Ford: “It is good that people do not know the banking and monetary system. If there wouldn’t be a revolution tomorrow morning».