Citigroup May Start Offering BTC Future Trading1 min read
A spokesperson of Citigroup Inc said that the bank might start offering BTC futures trading for some institutional clients, in order to keep up with the increasing demands in the crypto space.
The banking giant is currently waiting for regulatory approval before they can begin trading BTC future contracts on the Chicago Mercentile Exchange (CME).
Citigroup is actively hiring people for their crypto-focused team in London. The person stating this said:
“The team is likely to win approval to begin trading CME BTC futures first and then BTC exchange-traded notes (ETNs).”
The bank’s spokesperson said that they are treading carefully due to the “many questions around regulatory frameworks, supervisory expectations, and other factors.” They added that the bank considers offering products like futures for some of their institutional clients, since these operate under strict regulatory frameworks.
Currently, Citigroup has roughly $23.7 trillion in assets under custody. The banking giant launched a subsidiary that specializes in offering cryptocurrency-related products in June.
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