Financial giant E-Trade plans launch of Bitcoin and Ether-Trading

Home News financial giant E-Trade plans launch of Bitcoin and Ether-Trading

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Marcus Misiak –
28.04.2019

The next Mainstream financial giant plans to crypto-currencies to trade. According to the information of anonymous sources E-Trade is planning the introduction of crypto-Trading on its platform. The service will initially support Bitcoin and Ethereum.

The New York-based financial giant has around 4.9 million Brokerage accounts. Accordingly, the step would mean a considerable acceptance of the cryptocurrency market. According to the with the United States Securities & Exchange Commission (SEC) filed annual report for the 31. December 2018, has E-Trade on assets in the amount of about 65 billion US dollars and a margin balance of $ 9.6 billion and is also one of the most famous trading platforms in the United States.

E-Trade enables its clients to trade traditional assets such as ordinary shares, preference shares, mutual funds, exchange-traded funds, futures, options, bonds and fixed income investments. The uptake of crypto currencies in the platform would mean a further important milestone for crypto-currencies. In addition to the Brokerage accounts ETrade is currently offering Bitcoin on the Exchange Traded Fund (GBTC) of Grayscale. The Reporter for the New York Times, Nathaniel Popper, confirmed the latest News of ETrade and stated that the company is in the final stages of the launch of its crypto-trade services.

According to a Bloomberg report, unnamed sources indicate that the new service will compete with those of Robinhood and Coinbase. During the exchanges, called the charge relatively low fees and your money with the larger quantities of each of the Trades, earning, E-Trade on a different model. E-Trade has traditionally set the, what would appear to cryptographic Standards as a massive fee for the trade. The trading shares or exchange-traded funds will cost the users $ 6.95, with the fee for active users is reduced to 4.95 dollars. While the fees from E-Trade are similar to those of other broker firms, would require the crypto currency trading so a significant deviation. As E-Trade, this will be implemented remains to be seen.

In the mission statement from ETrade, it says:

Today, we are a leading Online financial services company that specializes in a first-class experience for the digital-oriented Investor and traders, supported by a personal professional advice. The company also has a High-Tech custody platform for advisers and the industry-leading management platform for share plans.

In a recent statement to Bitcoin with the title “What you should know about bitcoin” writes E-Trade:

Investors should be aware that the purchase and use of digital currencies such as Bitcoin risks of. Speculative trading in Bitcoins carries significant risk. There is also the risk of fraud related to companies claiming Bitcoin payment platforms and other Bitcoin-related products and services. […] Bitcoins online or in physical locations to be bought and sold. A growing number of physical facilities and commodity exchanges makes it possible for customers to buy Bitcoins with cash, credit cards, Bank Transfer and other methods and to sell. Bitcoins reside in a digital “Wallet” where they can be used to buy items from vendors, Bitcoins accept.”

When trading with E-Trade will start, remains open. At least the entry-level E-Trade could mean in the future, but a significant acceptance for the entire crypto market.

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