eTrade Would Integrate Bitcoin And Ethereum To Allow Users Trade These Digital Assets
According to a recent report released by CryptoSlate, New York Times journalist Nathaniel Popper, eTrade will be integrating Bitcoin (BTC) and Ethereum (ETH). eTrade is a major financial asset and stocks exchange. This would allow many investors to have access to the two largest digital assets in the market.eTrade Adds Support for BTC and ETH
Popper explained that after TD Ameritrade opening Bitcoin trading for customers, eTrade is also getting prepared to start offering Bitcoin and Ethereum for its customers.
On the matter, Popper commented:
"In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins."
According to a report released by The Block, TD Ameritrade was experimenting with ErisX's exchange the possibility to offer digital assets to over 11 million users.
This is also very important for the market because it will increase the liquidity of these two assets. There are several markets that have inflated numbers on their exchanges due to wash trading activities. This can be seen in the trading volumes reported by market data platforms such as CoinMarketCap.
Both TD Ameritrade and eTrade are still in an experimental phase. However, this shows that there is real interest from larger brokers to start offering crypto services to their investors. With this amount of funds entering the space, trading volumes will certainly increase and liquidity would improve.
This would also increase the chances of approval of a Bitcoin Exchange-Traded Fund (ETF) in the future. The U.S. Securities and Exchange Commission (SEC) has been worried about the volume and liquidity of this digital asset and about market manipulation. With larger brokers offering these services, Bitcoin would have a more stable price and larger buy orders would have less impact on the space.
There are many other firms that are starting to invest in the cryptocurrency market. One of these companies is Samsung that is working on its blockchain network and it could eventually launch a digital asset in the future. Moreover, banks such as JP Morgan Chase or Santander are also working with distributed ledger technology (DLT) and virtual currencies. JP Morgan launched its own virtual currency called JPM Coin and Santander is already using Ripple's technology for processing cross border payments.