Bank of America, the second-largest bank in the United States, approves the trading of bitcoin futures for source clients.
- Like most U.S. banks, BoA has been conservative in its acceptance of the crypto industry, but it was allowing some clients to access crypto markets due to the huge margin needed to trade in futures.
- Few investment banks are reportedly giving nod to clients to invest in crypto assets. In March, Goldman Sachs confirmed efforts to relaunch trading desks after a three-year break.
- Bank of America will also use CME futures to facilitate the buying and selling of the bitcoin futures.
CME bitcoin futures began in 2017. In May 2021, CME started its “Micro Bitcoin” futures offerings to capitalize on bitcoin’s price resurgence.
BTC USD gains +0.16%, BAC slips -1.30%.
Source: Coindesk.