TD Ameritrade and Nasdaq appear to be testing a and LTC spot feature that could open the floodgates for institutional of and .
bitcoin Trading on TD Ameritrade and Nasdaq?
On Monday (April 22, 2019), a Twitter user called “Cryptopolis” announced that on the Nasdaq via the TD Ameritrade brokerage platform. Understandably, the new caused a stir within the “ Twitterverse.”
BREAKING: is now being traded on the Nasdaq! I bought one through my TDAmeritrade account! According to the chart it started April 10, 2019!! Other digital assets are soon to follow!! 🚀🚀🚀
— Cryptopolis (@cryptopolis_x)
However, it turns out that the trade was only a test with TD Ameritrade apparently trying out via their Paper desk.
Cryptopolis, who identifies as a quantitative analyst at analytics service firm StrongMarket, says Nasdaq may also be collaborating with TD Ameritrade.
According to Cryptopolis, customer support at the brokerage firm wasn’t forthcoming with information about the matter beyond saying it wasn’t a real trade.
creator, Charlie Lee also pointed out that is not only being tested for but for (LTC) as well. The test shows both are being traded against the USD.
Just saw that TD Ameritrade is testing both and LTC on its brokerage platform. 😲 🚀
— Charlie Lee [LTC⚡] (@SatoshiLite)
11 Million Clients May Soon Get Access to BTC Trading
TD Ameritrade has more than 11 million client accounts with more than $1 trillion in assets. The U.S. broker already offers .
One puzzling aspect of the story that even lends credence to Nasdaq’s involvement is CXERX, the unknown symbol under which was on the platform.
Cryptopolis reported that TD Ameritrade customer service seemed unaware of the symbol. Is it a forex symbol or perhaps an index?
The CXERX chart shows the /USD pair coming online on Wednesday (April 10, 2019) with the trades based on data from Nasdaq.
Growing Institutional Interest in bitcoin
Live spot of on the Nasdaq could potentially increase ’s institutional appeal. It would also open another vista of institutional for and .
Already, firms like and are set to launch custody and futures platforms respectively. Nasdaq has also to establish a futures platform sometime in 2019.
The addition of spot would effectively constitute a trifecta of institutional-grade crypto . Experts believe that the influx of big-money players will also act as a to push the price even higher.
Currently, price 00 is up about 50 percent since the start of 2019. Analysts and commentators alike say the top-ranked has bottomed out and will experience in the next bull cycle.
If this is indeed the case, then brokerage giants like TD Ameritrade will likely benefit from the increasing interest in and price gains.
Do you think spot is coming to the Nasdaq? Let us know your thoughts in the comments below.
Images via Twitter and , Shutterstock
Published at Wed, 24 Apr 2019 13:40:46 +0000
