Bank of America, the second largest bank in the United States, has approved, according to sources close to the entity, the trading of bitcoin futures for some clients,
Like most institutions, the bank has been conservative in its approach to the cryptocurrency sector, but due to the large amount of margin required to trade futures, it is now allowing some clients to access the cryptocurrency market. Some of your clients are reportedly preparing to trade bitcoin futures, which are settled in cash, and one or two may have already started trading.
For their part, several investment banks are allowing their clients to invest in crypto products. For example, in March, Goldman Sachs confirmed its plans to relaunch its cryptocurrency trading desk after a three-year hiatus, and in May, the investment bank began buying and selling bitcoin futures in block trading through Chicago Mercantile Exchange (CME) Group.
As known, Bank of America will also use the CME futures, but did not comment on the matter.