Bank of America Takes a Historic Step into Cryptocurrency
Merrill Edge Enables Bitcoin Futures Trading
In a groundbreaking move, Bank of America, the second-largest bank in the United States, has announced the approval of bitcoin futures trading through its subsidiary, Merrill Edge. This electronic trading platform, launched in 2010, provides investors with a convenient and secure way to participate in the growing cryptocurrency market.
Warming Up to Digital Assets
Beyond the approval of bitcoin futures trading, Bank of America appears to be gradually warming up to digital assets and cryptocurrencies. Two of its subsidiaries, MERRILL LYNCH and WELLS FARGO, are actively involved in the digital assets space.
Most notably, Bank of America recently upgraded its rating for Coinbase, one of the largest cryptocurrency exchanges in the world, to "buy." This move suggests that the bank is becoming increasingly confident in the long-term prospects of cryptocurrencies and the companies that support them.
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