Bank of America, the country’s second-biggest bank, authorized bitcoin future trading to some of its clientele, according to Coindesk.
- Due to a substantial margin required in trading the futures, the bank will loosen its conservative stance to the cryptocurrency to some clients.
- Some of BofA’s clients are preparing to trade bitcoin futures, with others already having gone live.
- BofA will use Chicago Mercantile Exchange futures and has created a research team on cryptocurrencies technologies.
Open interest in the Bitcoin futures market currently stands at $11.3 billion, a 59% drop from $27.3 billion in April last year.
BAC: NYSE is down -1.34%