Bank of America Reportedly Approves Bitcoin Futures Trading

After years of bashing Bitcoin, one of America’s largest banking establishments – Bank of America – seems to have completed its 180-turn. The organization has purportedly approved the trading of BTC futures.

  • Citing two sources familiar with the matter, CoinDesk reported that the Wall Street behemoth will enable some of its customers to trade BTC futures.
  • The plan to allow only a handful of clients to access the new service is because of the large amount of margin required to trade futures.
  • One of the sources went even further, indicating that some customers may have already started interacting with the primary cryptocurrency through BofA’s platform, which will use CME futures.
  • This development comes just a week after another report saying that the giant banking organization had set up a designated research team focusing on the cryptocurrency industry.
  • It’s worth noting that the bank was among the most vocal critiques of Bitcoin in the past. Earlier this year, it published a paper in which it claimed that BTC had failed as a store of value because it was “too volatile and impractical.”
  • A few years back, Bank of America blocked clients from trading and operating with any investment options related to BTC.
  • Shortly after CoinDesk’s report went live, the price of bitcoin suddenly spiked by $1,000 – from it’s intraday low of $31,000 to $32,000.

Featured Image Courtesy of PressDemocrat

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 97,066.01 2.76%
Ethereum (ETH) $ 3,322.45 7.15%
Tether (USDT) $ 0.999784 0.34%
Solana (SOL) $ 253.65 7.63%
BNB (BNB) $ 619.30 1.14%
XRP (XRP) $ 1.11 0.87%
Dogecoin (DOGE) $ 0.38263 0.01%
USDC (USDC) $ 0.999351 0.21%
Lido Staked Ether (STETH) $ 3,322.15 7.25%
Cardano (ADA) $ 0.788549 4.86%