E-trade Financial, a major player in the financial services industry, offered bitcoin futures to its client on January 2. The firm, headquartered in New York City, allows investors to buy and sell securities like stocks, bonds, options, mutual funds, as well as banking services such as savings products.
E-Trade financial kick-started trading in bitcoin futures via the CME gateway on January 2, 2018.
E-trade is the latest broker to start offering bitcoin futures trading following the launch of the CBOE and CME bitcoin derivatives in mid-December 2017. The continuous surge in the price of bitcoin and interests from investors prompted the two financial services giants to list the futures contracts on their platforms.
The U.S.-based Interactive Brokers, a leading forex broker and one of the largest electronic brokerage firms as per daily average revenue trades, also rolled out its bitcoin futures trading in December 2017, and TD Ameritrade and E-Trade began offering its clients access to Chicago Board Options Exchange (Cboe) futures as well.
The Cboe, founded in 1973, holds the record of being the first to offer bitcoin futures trading.
Brokerage companies are expected to benefit from offering new products, such as trading bitcoin futures, as The Guardian reports Plus500, a financial spread betting firm, experienced a sharp increase in its share price over 2017 and in early 2018. The firm stated that interest in bitcoin and other cryptocurrencies had boosted their profits, “Plus500 has experienced strong volumes in cryptocurrency CFDs and has seen increased interest throughout the year in a category which we introduced in 2013.”
Expectations are high that the launch of bitcoin futures trading by these financial institutions will intensify the bullish rally for the world’s flagship cryptocurrency. At the time of writing, the price of bitcoin is near the $14,500 region with a market capitalization of $249.5 billion according to Coinmarketcap.
The post E-Trade Offers Bitcoin Futures Trading Through The CME Gateway appeared first on BTCMANAGER.