E-Trade Financial Adds Bitcoin Futures Trading On Its Platform

E-Trade Financial Adds Bitcoin Futures Trading On Its Platform

E-trade Financial is a key player in the financial services sector. The company is headquartered in New York City. E-Trade Financial allows investors to buy and sell securities like stocks, bonds, options, and mutual funds.It also offers banking services like sweep deposits and savings products.
As reported by Evelyn Cheng, E-Trade began trading Bitcoin futures using the CME Bitcoin futures trading gateway on January 2, 2018.
E-trade is the latest financial services company to start offering Bitcoin futures trading after the launch of the CBOE and CME bitcoin futures contracts in December 2017. The ever-rising price of Bitcoin prompted the two financial services giants to list Bitcoin futures on their platforms.
The U.S based Interactive brokers – a significant foreign exchange broker and one of the largest electronic brokerage firms regarding daily average revenue trades also started its bitcoin futures trading last month, and TD Ameritrade and E-Trade began offering its clients access to CBOE futures as well.
The Chicago Board Options Exchange founded in 1973, is the first to offer bitcoin futures trading in the United States, followed by the CME Group.
Bitcoin market analysts believe that the launch of bitcoin futures contracts by these financial institutions will increase the rate of bitcoin adoption and fuel more bullish rally for the world’s number one cryptocurrency.
At press time, as seen on coinmarketcap the price of Bitcoin is stable at just above the $14,000 price area, with a market capitalisation of $249 billion, helping Bitcoin retain its clear lead as number one.