In line with a recent official report published by ‘Bloomberg’, online trading company named E*Trade financial group is getting ready to offer crypto trading on its platform.
Among one of the leading on-line trading platforms, E*Trade offering crypto trading might represent a vital step forward for cryptocurrency adoption. As per the company’s annual ‘report‘ filed with the U. S. SEC [Securities and Exchange Commission] earlier on 31st December, last year, E*Trade had over 4.9 Mln brokerage accounts along with total margin assets balance of around $9.6 Bln. The company’s total assets are over $65 Bln.
E*Trade platform is expected to join several other on-line securities commercialism platforms along with Robinhood, that have additionally stepped into the cryptocurrency arena. Earlier in may last year, Robinhood in brief ‘overtook‘ E*Trade within the total number of trading accounts on the platform.
While explaining further, Robinhood co-founder Baiju Bhatt added:
“Cryptocurrencies has definitely added to our growth. Within the next upcoming few years, i believe you’ll see Robinhood looking alike a full-service client financial company.”
Some analysts have recently ‘added‘ that cryptocurrency represents a sound long-run investment for the institutional investors. Cambridge Associates, that specialises in pension and endowment consultancy, added:
“Despite the challenges, we believe that it’s worthy for investors to start exploring this space today with an eye towards the future. Though these investments entail a high degree of risk, some might very well upend the digital ecosystem.’’