Bitcoin News

E-Trade may be about to launch Bitcoin and Ethereum trading to its 5 million users

E-Trade, may begin offering Bitcoin (BTC) and Ethereum (ETH) trading to its 5 million customers, as reported by  Bloomberg.

The Bloomberg report also states that more cryptocurrencies may be added in the future, making E-Trade a possible competitor to the likes of Coinbase and Robinhood for a share of the regulated and non-custodial trading segment.

It is most likely that those who purchase Bitcoin or Ethereum on the platform will not have the private keys to the funds themselves, with E-Trade reportedly in talks with a third party for the custody of users’ digital assets.

E-Trade, which generates nearly $3 billion in revenue, offers a major brokerage service that could help bring further adoption and attract more investors into the cryptocurrency markets.

Coinrivet recently covered the story of Etoro launching a crypto exchange platform called etoroX. The new platform will transition the firm from just a social crypto trading product (for its 10 million users) to now sending and receiving cryptocurrencies and stablecoins on its bespoke trading platform. Like Etoro, E-Trade may also look to follow suit, if it can see demand for such a product from its 5 million strong user base.

Mobile stock trading app Robinhood, on the other hand, launched cryptocurrency trading services over a year ago and recently announced a plan to launch an initial public offering (IPO).

Nawaz Sulemanji

Nawaz has been hooked on crypto since buying his first Bitcoin’s in 2013. After studying maths in London, Nawaz initially spent the first eight years of his career working globally across corporate supply chain’s before transitioning into the decentralised finance industry as a margin-trader and consultant. He’s a fan of open-blockchains because “it enables self-sovereignty”.

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