Online stock brokerage E*Trade is preparing to launch cryptocurrency trading services, according to Bloomberg sources.
E-Trade Financial Corporation has started trading in CME bitcoin futures.
According to its website, the online stock brokerage firm – which launched the trading of CBOE bitcoin futures last month – opened up trading of bitcoin futures from CME Group for customers as of Tuesday evening. The intraday initial margin requirement for the CME bitcoin futures (“BTC”) has been set at 80 percent, that same as is required for CBOE futures (“XBT”).
The New York-based online brokerage first allowed customers to trade bitcoin futures from CBOE Global Markets on Dec. 20.
The U.S. Commodity Futures Trading Commission (CFTC) approved both CBOE and CME to list bitcoin futures on Dec. 1. The regulator said at the time that the companies will pursue a self-certified initial listing, after working with the agency to set a standard for the offerings.
TD Ameritrade Holding Corp. and Ally Financial Inc.’s Ally Invest have also opened up CBOE bitcoin contracts to investors. Interactive Brokers Group also opened trading in products from both exchanges in December, a CNBC report states.
Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk’s parent company.
Trading chart image via Shutterstock
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.