September 28, 2023 2:48 am

Citi Will Reportedly Start Trading Bitcoin Futures, Following Goldman Sachs’s Lead As Client Demand for Crypto Spikes

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

URGENT: JUST 11 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, TO ENSURE WE ARE FULLY FUNDED FOR NEXT MONTH,SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Citi Will Reportedly Start Trading Bitcoin Futures, Following Goldman Sachs’s Lead As Client Demand for Crypto Spikes

By Crypto Global News

  • Citigroup is actively recruiting traders to begin working with bitcoin futures, according to a new CoinDesk report.
  • The report, citing two sources including one within the bank, says that Citi is angling to trade bitcoin futures contracts on the Chicago Mercantile Exchange and is awaiting regulatory approval.
  • In May, Goldman Sachs began offering certain clients access to a bitcoin via a derivative called non-deliverable forwards.

Citigroup is actively recruiting traders to begin working with bitcoin futures, according to a new CoinDesk report.

The report, citing two sources including one within the bank, says that Citi is angling to trade bitcoin futures contracts on the Chicago Mercantile Exchange.

A source familiar with the situation told CoinDesk that Citi’s trading operation could begin with bitcoin futures before moving on to other products like bitcoin exchange-traded notes. The bank is currently awaiting key regulatory approvals for a crypto trading desk based in London, according to CoinDesk.

But Citi denied parts of the report, saying claims that it was starting a crypto-focused team in London or looking into ETNs were inaccurate.

“We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks,” a Citi spokesperson told Insider in a statement. “Given the many questions around regulatory frameworks, supervisory expectations, and other factors, we are being very thoughtful about our approach.”

In May, Goldman Sachs began offering certain clients access to a bitcoin via a derivative called non-deliverable forwards, according to Bloomberg Law. NDFs let holders bet on bitcoin’s short-term price direction while getting paid in cash, rather than bitcoin. Goldman hedges the bet by buying or selling bitcoin futures on the CME.

“The firm is not in a position to trade bitcoin, or any cryptocurrency (including ethereum) on a physical basis,” Goldman’s crypto trading head said in a memo obtained by CNBC.

Citi had previously offered clients access to ethereum ETNs but backed away after the 2017 “crypto winter” price crash.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Related News

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Australian National Review is Australia’s first real free and independent press, one with no editorial control by the elite, but a publication that can generate critical thinkers and critical debate and hold those spreading mistruths and deliberate propaganda in mainstream media to account.

News with a difference that will be educational, compelling and create a platform for political and social change in this country and address the real issues facing this country and the world.

Watch Full Documentary

URGENT: JUST 3 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED TO LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS

Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY