Bank of America Approves Bitcoin Futures Trading for Some Clients

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Great news for the Cryptocurrency world as America’s second-largest bank, Bank of America, has approved the trading of bitcoin futures for some clients.

The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina.

The bank has been conservative in its approach to the crypto sector, but due to the large amount of margin required for trader's to trade the futures, it is now allowing some clients to access the crypto market, And some clients are setting up to trade bitcoin futures, which are cash settled, may have already gone live.

A number of investment banks are reportedly allowing clients to invest in crypto products and many more will follow suit as cryptocurrency is the future.

The Goldman Sachs Group, Inc., is an American multinational investment bank and financial services company headquartered in New York City.

Goldman Sachs In March, confirmed plans to relaunch its cryptocurrency trading desk after a three-year hiatus, and in May, the investment bank started buying and selling bitcoin futures in block trades through Chicago Mercantile Exchange (CME) Group, using Cumberland DRW as its trading partner.

CME Group Inc. is an American global markets company. It is the world's largest financial derivatives exchange, and trades in asset classes that include agricultural products, currencies, energy, interest rates, metals, stock indexes and cryptocurrencies futures.

Bank of America will also be using CME Bitcoin futures too.

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