Similar to banking platforms, investment companies such as eTrade and TD Ameritrade may be looking into the use of digital currency investment tools for their customers.
TD Ameritrade states on its website that “Bitcoin futures trading is here.” The platform explains that “Quotes and trading capabilities for these futures products are available on our think or swim platform and TD Ameritrade Mobile Trader app.”
One individual tweeted his experience with the new trading platform, in which he purchased 1 BTC using his Ameritrade account. Cryptopolis tweeted, “BREAKING: BTC is now being traded on the Nasdaq! I bought one BTC through my TDAmeritrade account! According to the chart, it started trading on April 10, 2019!! Other digital assets are soon to follow!!”
CXERX could possibly stand for “Crypto Exchanged Erisx,” however this is just speculation at this point. It has not been confirmed. He later came back to explain what TD Ameritrade Support said:
UPDATE: According to TDAmeritrade support – it's not a real trade in my account – it appears they are testing only using their Paper Trading platform. Support said “I'm not able to speak on it” -They did not know what CXERX is. Strange… But something is going on for sure! pic.twitter.com/gUxtHX0TNg
— Cryptopolis (@cryptopolis_x) April 22, 2019
It seems that Charlee Lee, Litecoin’s creator, shared that TD Ameritrade is testing BTC and LTC trading on its platform. He tweeted, “Just saw that TD Ameritrade is testing both BTC and LTC trading on its brokerage platform. 😲 🚀” This could be a sarcastic jab though.
TD Ameritrade is not the only investment platform that offers its customers bitcoin trading. Nathaniel Popper, a journalist at the New York Times shared on Twitter that that eTrade is preparing to offer crypto investment, too. He tweeted: “In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing the third party to actually hold the coins.”
It will be interesting to see how businesses evolve in relation to cryptocurrency as they realize that there may be a demand for the digital currency, whether it be in the form of trading or otherwise.