Citigroup recently filed a Trade Bitcoin Futures to get approval. They claimed that there was a huge demand by their clients to bring a Futures Trading facility for them.
In the present time funder manager companies & other banking related firms are eager to get into Bitcoin related services but they are not ordered to go with the direct use. But only one option allows them to go with a Bitcoin ETF. In recent months, many firms applied for the Bitcoin futures trading and analysts also said that they are likely to get approval by the SEC easily. Here Citigroup became one of the latest firms to give exposure to the Bitcoin Investment.
Recently, Citigroup filed for Bitcoin futures. They claimed that they are in big need to get approval from the regulators because their clients are showing huge interest in Bitcoin futures trade and they want futures trading options from our end.
The bank also added that, we will get approval because we will provide our services under the full regulatory framework and stated
“We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks”
This statement of Citigroup Inc. indicates that they have doubts whether they will get approval or not. Well here we have to wait for the October month, when sec will give approval to almost all the filed requests for the ETF & Bitcoin futures trading permission.
Also According to the reports, A person known in this matter said that Citigroup wants approval because they want to begin trading CME bitcoin futures for their clients.