E*Trade Gears Up to List Cryptos For Trading April 28, 2019 April 28, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 28, 2019 by Kelly Cromley

E*Trade Gears Up to List Cryptos For Trading

E*Trade Financial Group is gearing up to list cryptocurrencies on its trading platform. E*Trade is planning to begin by listing Bitcoin (BTC) and Ether (ETH) initially and add other cryptocurrencies in the future.

Being one of the biggest online trading platforms, E*Trade could portray a major leap forward for cryptocurrency promotion.

According to the company’s annual report to the US Securities and Exchange Commission (SEC) on Dec. 31, 2018, E*Trade had total margin receivables of $9.6 billion spread over 4.90 million brokerage accounts. The company’s total assets exceed $65bn.

If E*Trade offered cryptocurrency trading, it would get a place in the list of online equities trading platforms like Robinhood, which also entered into cryptocurrency domain. Back in May 2018, Robinhood momentarily surpassed E*Trade in number of trading accounts. When that happened, Baiju Bhatt, Robinhood co-founder, said

“Crypto has certainly added to our growth. In the next couple of years, I think you’ll see Robinhood looking like a full-service consumer finance company.”

Some analysts have recently said that cryptocurrency represents a solid longtime asset for institutional investors. Cambridge Associates, which focuses on pension and endowment consultancy, wrote:
“Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term. Though these investments entail a high degree of risk, some may very well upend the digital world.’’

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.