Bank of America could start trading bitcoin futures

Bank of America approved bitcoin futures trading on its platform, which will allow its clients to access the BTC market. It is even possible that some of your clients are taking advantage of the new financial instrument while others are preparing to invest.

According to Criptonoticias, Bank of America spokespersons reported that they will purchase futures on the Chicago Mercantile Exchange (CME), one of the world's leading derivatives exchanges. But not only that, it is also about the institutional provider of Bitcoin futures contracts. On the other hand, the CME published that it will expand its offer of bitcoin derivatives, with the launch of BTC microfuture contracts.

However, the aforementioned information has not yet been confirmed by bank authorities; In fact, the adoption of bitcoin by the bank contradicts its position on cryptocurrencies, which was released in a statement 4 months ago, where it indicated that the volatile nature of bitcoin makes it "impractical as a reserve of value or as a means of payment ”.

On the other hand, if the above statements are true, Bank of America will follow the path of other US financial institutions, which have adopted bitcoin as a financial instrument. Indeed, Morgan Stanley was the first US bank to offer the purchase of bitcoin to its clients through three investment funds. In turn, Goldman Sachs is also a financial institution that offers its clients mechanisms to invest in bitcoin.

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Andrea Norabuena
Lawyer from the Pontifical Catholic University of Peru with a Specialization in Consumer Protection from the same House of Studies. Member of the Lima Bar Association. He has experience in consumer protection, intellectual property and competition law. His career includes INDECOPI, law firms and companies. Currently, she is an independent consultant.

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