According to anonymous sources for Coindesk, Bank of America (BoFA) will now allow Bitcoin futures trading for some clients.
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The sources for Coindesk have said that BoFA is now allowing Bitcoin futures due to the large amount of margin it requires, making it a potentially lucrative business.
According to one of the sources, BoFA will be facilitating the Bitcoin futures with CME contracts. This news has come shortly after it was reported that BoFA would debut a crypto-specific research team in an internal memo.
The memo was written by BoFA’s head of global research, Candace Browning, who said that cryptocurrencies are one of the fastest-growing tech ecosystems and that BoFA may be positioned to become a thought leader in the field.
“Cryptocurrencies and digital assets constitute one of the fastest growing emerging technology ecosystems. We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform and our blockchain expertise.”
This story is developing.