Bank of America is reportedly taking a big first step into the crypto markets.
The second-largest bank in the US has launched Bitcoin (BTC) futures trading for a select group of clients, according to a report from CoinDesk.
Anonymous sources “with knowledge of the matter” say a small number of clients are already up and running, and additional clients are currently going through an onboarding process.
The move would make Bank of America the latest in a string of financial institutions to support the emerging digital asset industry.
In February, BNY Mellon announced it’s working on a platform that will allow clients to transfer, safekeep and issuance digital assets.
In March, Morgan Stanley revealed it’s giving wealthy clients access to BTC.
In April, Goldman Sachs said it plans to offer crypto exposure to clients in its private wealth management group.
In May, crypto custody firm New York Digital Investment Group (NYDIG) and Fidelity National Information Services (FIS) confirmed they are working together to allow hundreds of US banks to support Bitcoin, the top crypto asset.