- E-Trade users to start trading Bitcoin and Ethereum as the platform plans to support more digital assets.
- E-Trade entrance into the crypto market is a huge milestone for the industry.
The leading electronic platform E-Trade is likely to launch both Ethereum and Bitcoin to its massive client base. In fact, according to a report by Bloomberg, the platform will also add other digital assets for trading in the near future. The addition of cryptocurrencies to E-Trade will make it a direct competitor to both Coinbase and Robinhood.
It should be noted that users the platform will not have direct control over the assets in terms of storing their own private keys. However, the report indicates that E-trade will see a third party to provide custody services. The news was also shared by Nathaniel Popper, the author of the ‘Digital Gold’ book who said via Twitter:
“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.”
E-Trade entrance into the crypto market is a major milestone considering that it posts revenues of about $3 billion. Moreover, its massive client base will be a boost to the adoption of digital assets and clear the negative narratives surrounding digital assets.
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