Bank of America gives some clients green light on trading bitcoin futures - Coindesk
Jul. 16, 2021 9:19 AM ETBank of America Corporation (BAC)BACBy: Liz Kiesche, SA News Editor2 Comments
- Bank of America (NYSE:BAC), the U.S.'s second-largest bank, will allow trading of bitcoin (BTC-USD) futures for some of its clients, Coindesk reports, citing two people with knowledge of the matter.
- Some clients are setting up to trade the futures and one or two may have already started, one source told Coindesk.
- That's following other large financial institutions that are allowing wealthy clients to invest in cryptocurrencies due to a strong interest in digital assets.
- Last month, Citigroup launched a Digital Assets Group within its Wealth Management division and in May, Goldman formed a crypto trading desk.
- In March, Morgan Stanley said cryptocurrency was nearing its investable asset class threshold.