TD Ameritrade is Testing Bitcoin (BTC) Trading on Nasdaq Under CXERX per StrongMarket Analyst

Yesterday, Nasdaq-based Bitcoin products made an appearance on the second largest stock exchange but turn out TD Ameritrade might be testing Bitcoin trading on the exchange which if comes true will bring in a new wave of retail and institutional investors.

Cryptopolis, a quantitative analyst at StrongMarket, took to Twitter on April 22 to share that Bitcoin is now being traded on the Nasdaq. He reportedly even bought one BTC at the price of $5,335 through his TD Ameritrade account. Well, he didn’t stop just there as he further stated the trading for BTC/USD pair has been going on since April 10 and other digitals could follow soon as well.

As per the screenshot shared by him, the product has been trading under the ticker “CXERX” that is listed on the Nasdaq.

However, no real Bitcoin product is actually live on Nasdaq under CXERX ticker. In his follow up tweet, Cryptopolis shares that on reaching out to the support staff at TD Ameritrade who goes by “Sean B”, it might not be anything, at least not yet as the staff didn't even knew what CXERX is. Also, it is likely that is is being tested on the paper trading side meaning no transactions is actually occurring or could be just a forex symbol.

TD Ameritrade is not new to the crypto as last year the retail brokerage company had invested in ErisX, a trading platform that planned to launch spot contracts in Q2 of 2019 after receiving DCO approval from the CFTC.

Just late last year, Gabor Gurbacs, a digital asset strategist/head at VanEck – the firm behind the leading Bitcoin ETF proposal – revealed that VanEck is, in fact, partnering up with New York-based exchange Nasdaq to “bring a regulated crypto 2.0 futures-type contract” to the market.

However, no more details were divulged regarding these collaborative efforts. But Joseph Christinat, the Vice President of Nasdaq media relations told an English Newspaper that they will be doing this no matter what and is ready to start operations with only the approval from the CFTC been missing.

“Bitcoin Futures will be listed, and it should launch in the first half of next year – we’re just waiting for the go-ahead from the CFTC, but there’s been enough work put into this to make that academic.”

It is not the first crypto-related product that has been stalled by the CFTC, the much anticipated Bakkt’s futures product is also stuck as well. Well, sooner or later it could be expected that these big institutions will eventually bring these BTC products in the market.

Now, if TD Ameritrade's BTC product turns out to be true, it would be a big thing for the crypto market that would bring in a new wave of institutional and retail investors. This could even turn out to be the force to steer the Bitcoin into a bull market leaving the bears in the dust.

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