United State’s largest brokerage TD Ameritrade has reportedly made Bitcoin futures trading available on its platform. The news was recently shared by eToro senior analyst, Mati Greenspan and confirmed by TD Ameritrade’s official website.
Bitcoin Futures Available at TD Ameritrade
Back in March 2019, TD Ameritrade executive vice president, Steven Quirk stated that they have been receiving calls and emails from their clients seeking to have futures tied to the cryptocurrency. During that time, Steven seems positive to have a platform open and participate in the crypto market.
According to the reports of September, TD Ameritrade has valued over $1.2 trillion equity and with BTC’s gate officially opened now, it is predicted to attract a lot of people. Nevertheless, the giant also confirmed this report on its website and adds that;
Bitcoin futures trading is available at TD Ameritrade. Quotes and trading capabilities for these futures products are available on our thinkorswim platform and TD Ameritrade Mobile Trader app.
Moreover, the platform has mentioned how a client can access to bitcoin futures at TD Ameritrade here.
Bitcoin trading is now available @TDAmeritrade!!!
Been waiting a while for this. Ameritrade is one of the US’s oldest and largest online brokers.
As of September, client equity totaled $1.279 trillion.
The floor gates to BTC are now officially open. https://t.co/9gBo3zSuUZ
— Mati Greenspan (@MatiGreenspan) July 23, 2019
During early July 2019, reports surfaced on the web states that TD Ameritrade-backed ErisX received a license from US Commodity Futures Trading Commission (CFTC) to offer crypto derivatives. The license “Derivatives clearing organization (DCO) is one of the parallel approval to the existing “designated contract market (DCM) license that ErisX had already held.
The report of TD Ameritrade offering futures contract tied to crypto comes in a wake of Bakkt’s beta testing launch of bitcoin futures. It mentioned that “testing is proceeding as planned”. On July 22, 2019, Bakkt posted a tweet adding;
Today kicks off user acceptance testing @ICE_Markets for the Bakkt Bitcoin Daily & Monthly Futures contracts Testing is proceeding as planned with participants from around the world.
As for now, clients of TD Ameritrade can access to futures contract tied to bitcoin by following the procedure explained on its website. However, this has no influential effect on the price of Bitcoin yet, the world’s largest cryptocurrency, Bitcoin is still trading below $10200 by declining with over 4 percent within the past 24 hours.
Image source – TD Ameritrade official website
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