Citigroup prepares to launch Bitcoin futures trading

by in Cryptocurrency News

Citi

Back in early May 2021, the media, citing their sources, reported on the plans of the financial holding Citigroup to develop a service for operations with cryptocurrencies. The giant is taking such a step against the backdrop of the growing demand of its customers for digital assets.

This week, the intention of Citigroup’s management to start trading Bitcoin futures was revealed.

The banking conglomerate also acts in the interests of high net worth clients. It will transact a BTC-focused product on the Chicago Mercantile Exchange (CME). No official confirmation or denial of such information has yet been received.

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The journalists, citing their sources, said that in parallel, the top management of Citigroup is currently actively recruiting specialists in cryptocurrencies for its London branch. Trades start only after the financial holding receives the appropriate permission from the regulatory authorities.

Citigroup currently holds assets totaling up to $ 23.7 trillion.

In addition to this holding, many other American investment banks are also infiltrating the crypto space to meet the demand of institutional investors for innovative instruments.