- TD Ameritrade waiting on ErisX to complete its product development & gaining regulatory approval
- “Bitcoin futures trading is available at TD Ameritrade,” for qualified clients
One of the biggest asset managers in the world TD Ameritrade has been making its way into the cryptocurrency world for quite some time now. One of the involvements has been the company making an investment in ErisX, a platform that offers traders access to cryptocurrency spot contracts and futures contracts on a single crypto exchange.
“This strategic investment is yet another way to demonstrate our ongoing commitment to innovation—and bring our clients a best-in-class investing and trading experience.”
ErisX is a CFTC-regulated derivatives exchange and clearing organization that will offer spot contracts and digital asset futures, making digital currency trading more accessible to traders and investors.
Back in October 2018, TD Ameritrade invested in ErisX and once it completes its product development and obtains regulatory approval, cryptocurrency spot trading will be made available.
However, for now, the asset manager is providing Bitcoin futures trading at TD Ameritrade to qualified clients.
“Bitcoin futures trading is available at TD Ameritrade,” states the company.
As for how one can trade on TD Ameritrade, as it mentions, there are certain qualifications required for CME Group Bitcoin futures trading including a minimum account of $25,000, Tier 2 spread option approval, Futures trading approval, and advanced features and margin enabled.
However, for now, TD Ameritrade doesn’t provide the ability to trade or hold Bitcoin or any other cryptocurrency for that matter directly in TD Ameritrade accounts. It also doesn't provide access to Bitcoin exchange networks.
TD Ameritrade simply offers the ability to trade Bitcoin futures contracts much like they offer future contracts for gold, crude oil, corn, and others.
Just last week, during Consensus event, Steven Quirk, TD Ameritrade executive vice president talked about the enormous interest they are receiving from its clients.
“We get calls, emails, 60,000 clients have traded something in this complex,” said Quirk.
“As soon as you open the door, you’re going to get a lot of people” that are looking to participate in the crypto market,” added Quirk.
All of this latest ErisX and TD Ameritrade news comes on the heels of Bakkt making headlines last week regarding its advancements on coming to the marketplace as well, which is slated for July 2019 as the race to cater towards the institutional investor heats up.
Latest ErisX Crypto Exchange News
Latest TD Ameritrade Crypto Updates