Interested in trading BTC futures stateside?
Bank of America appears to be the latest large legacy financial institution to embrace Bitcoin in The U.S.
According to sources, Bank of America has launched a trading platform allowing some of its clients to trade Bitcoin futures.
This trading will likely not be retail in a strict sense, but rather for special clients.
The fact that Bitcoin derivatives are now being introduced by several large financial institutions, in the highly regulated U.S. capital markets, is a reassuring sign as to the future of Bitcoin in general.
Here are the latest reports:
BANK OF AMERICA APPROVES BITCOIN FUTURES TRADING FOR SOME CLIENTS – COINDESK
— *Walter Bloomberg (@DeItaone) July 16, 2021
America’s second-largest bank, Bank of America, has approved the trading of bitcoin futures for some clients
— ฿ITCOINTRAPPER (@BITCOINTRAPPER) July 16, 2021
Coindesk featured the story:
Bank of America, the second-largest bank in the U.S., has approved the trading of bitcoin futures for some clients, according to two people with knowledge of the matter who spoke on condition of anonymity.
Like most institutions, the bank has been conservative in its approach to the crypto sector, but due to the large amount of margin required to trade the futures, it is now allowing some clients to access the crypto market, one of the sources said.
Some clients are setting up to trade bitcoin futures, which are cash settled, and one or two may have already gone live, the other source said.
Wall Street continues to warm up to the bitcoin market. Sources tell me that Bank of America has begun clearing cash-settled bitcoin futures.
My latest: https://t.co/mrgDFlLjnT
— Frank Chaparro (@fintechfrank) July 16, 2021
Bank of America, the second biggest bank in the U.S., will facilitate Bitcoin futures trading.
And you are worried about what Bitcoin will do in the next few weeks.
— Joseph Young (@iamjosephyoung) July 16, 2021
Coin Telegraph added:
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing but, so far, not breaking through $31,000 on Friday.
A late surge to near $32,000 then entered as unconfirmed reports surfaced that Bank of America had given the go-ahead for Bitcoin futures trading.
Market participants held mixed opinions about the short-term outlook, with popular trader Michaël van de Poppe noting on Thursday that $31,000 was something of a final frontier for Bitcoin — lose it, and $29,000 or even $24,000 would logically be next.
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